Bulgaria's HES plans 0.11 euro/share dividend for 2023, cap hike

HES plans to distribute as dividend some 3.82 million levs out of its net profit of 4.13 million levs reported for last year, the company said in a bourse filing. The remainder would be retained as undistributed profit.

If approved, the dividend will be paid out over six months, starting July 22.

HES also said it is prposing to increase its capital by issuing new shares over a five-year period. The company has a registered capital of 18.2 million levs divided into 18.2 million shares of 1 lev in par value each.

The proposals will be put to the vote at a general meeting of shareholders scheduled on June 28.

HES paid out a gross dividend of 0.33 levs per share for 2022, or a total of 6 million levs, according to previously disclosed information.

The company is part of local diversified group Stara Planina Hold [BUL:SPH]. Shares in HES last traded on Wednesday when they closed at 5.55 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)