March 26 (SeeNews) - Bulgarian machine engineering company Hydraulic Elements and Systems (HES) [BUL:HES] said that it is proposing a gross dividend payout of 0.26 levs ($0.16/0.13 euro) per share for 2020.
HES paid a gross 0.21 levs per share for 2019.
The company will pay 4.73 million levs as dividend for last year under the proposal, it said in a stock exchange filing on Thursday.
HES' net profit rose to 5.7 million levs in 2020 from 4.3 million levs in 2019.
Shareholders in the company will vote on the proposal at a meeting scheduled for May 13.
As at 11:45 CET on Friday, shares in HES traded 0.40% lower at 4.96 levs on the Bulgarian Stock Exchange.
Yambol-based HES is a unit of local industrial group Stara Planina Hold [BUL:5SR].
(1 euro = 1.95583 levs)