May 18 (SeeNews) - Bulgarian textile company Mak [BUL:MAK] said it is proposing to its shareholders to skip dividend distribution for last year, after paying out a gross dividend of some 2.47 levs ($1.37/1.26 euro) per share for 2021.
Instead, Mak plans to invest its net profit reported for 2022 in the technical and technological upgrade of its production, it said in a bourse filing on Wednesday.
The proposal will be put to the vote at a general meeting of shareholders on June 22.
The company's consolidated net profit sank to 1.5 million levs last year from 4.3 million levs in 2021.
Gabrovo-based Mak specialises in the production of police, firefighter and military uniforms. It has a portfolio of over 400 products, including healthcare garments.
Shares in Mak last traded at 31.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)