December 13 (SeeNews) - Bulgarian hydro generators and electric motors maker IHB Electric said that it is seeking the approval of its shareholders to distribute a gross dividend of 0.50 levs ($0.29/0.26 euro) per share and subsequently discontinue operations and file for liquidation.
If the proposal is approved by the company's shareholders, IHB Electric will distribute over 606,000 levs as dividend, it said in an invitation for the meeting, published earlier this week.
The liquidation is expected to be completed within 1 year.
IHB Electric shareholders will vote on the proposals on January 15, 2020.
IHB Electric is part of Bulgarian blue-chip industrial group Industrial Holding Bulgaria (IHB) [BUL:4ID].
(1 euro = 1.95583 levs)