Bulgaria's Mak to skip dividend for 2022

Mak will instead invest its net profit reported for 2022 in the technical and technological upgrade of its production, it said in a bourse filing on Thursday.

The proposal was approved at a general meeting of shareholders on June 22.

The company's standalone net profit sank to 1.32 million levs last year from 4.84 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)