March 28 (SeeNews) - Bulgarian machine engineering company Hydraulic Elements and Systems (HES) [BUL:HES] said on Tuesday that it is proposing a gross dividend payout of 0.33 levs ($0.18/0.17 euro) per share for 2022.
Under the proposal, the company will distribute some 6 million levs from its 2022 net profit as dividend, HES said in a stock exchange filing. Additionally, each board member will receive 2.5% of last year's net profit as a bonus, while the remainder will be allocated to the company's undistributed profit.
In 2021, HES paid out a gross dividend of 0.31 levs per share, or a total of 5.64 million levs, according to previously disclosed data.
Shareholders will vote on the proposal on May 30. If approved, the dividend will be distributed over six months, starting July 20.
The company's standalone net profit increased to 9.6 million levs in 2022 from 7.65 million levs in 2021.
Yambol-based HES is a unit of local diversified group Stara Planina Hold [BUL:SPH].
Shares in HES last traded at 6.75 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)