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Bulgaria's Monbat shareholders approve dividend distribution for 2021

Bulgaria's Monbat shareholders approve dividend distribution for 2021 Author: Monbat / License: All rights reserved.

SOFIA (Bulgaria), June 15 (SeeNews) - Bulgarian battery manufacturer Monbat [BUL:MONB] said that its shareholders approved the proposed gross dividend payout for 2021 in the amount of 5.5 million levs ($2.9 million/2.8 million euro), or 0.141 levs per share.

The proposal was unanimously approved by investors attending the company's general meeting on Tuesday, who represented 89.53% of Monbat's registered share capital, the company said in a bourse filing on the same day.

Monbat will distribute its 2021 net profit totalling roughly 1.2 million levs as well as 4.3 million levs of retained earnings from previous years.

In 2021, the battery maker distributed gross dividend of 7 million levs, which included its net profit for 2020 of 5.35 million levs.

Earlier in June, Monbat said its consolidated net profit fell to just over 6 million levs in the first quarter of 2022 from 6.7 million levs in the like period of last year, as expenses climbed by some 8%.

Last week, Monbat and US Advanced Battery Concepts LLC (ABC) agreed on a programme to commercially develop bipolar lead-acid batteries for mass-scale industrial use, to be manufactured at a planned 1 Gigawatt plant in Bulgaria.

As at 1119 CEST on Wednesday, Monbat shares traded 1.74% lower at 5.75 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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