Bulgaria's M+S Hydraulic plans flat dividend for 2023, cap hike

M+S Hydraulic plans to pay out as dividends some 15.77 million levs from its net profit reported for last year, the company said in a bourse filing. The remaining earnings will be retained as undistributed profit.

If approved, the dividend will be distributed over six months, starting July 18.

In addition, M+S Hydraulic plans to increase its capital by issuing new shares over a five-year period.

Shareholders are set to vote on the proposals at a general meeting scheduled for May 21.

M+S Hydraulic is an affiliate of local diversified group Stara Planina Hold [BUL:SPH]. As of 1515 CET on Wednesday, shares in M+S Hydraulic traded 4.90% higher at 10.70 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)