March 24 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] said on Wednesday that it is proposing to distribute a gross dividend of 0.30 levs ($0.18/0.15 euro) per share for 2020.
M+S Hydraulic paid a gross dividend of 0.26 levs per share for 2019.
If the proposal is approved, M+S Hydraulic will distribute a total of 11.83 million levs as dividend for last year, the company said in a stock exchange filing.
The vote on the proposal is scheduled for May 18.
M+S Hydraulic's net profit rose to 14.3 million levs in 2020 from 12.8 million levs the year before.
Shares in the company closed at a price of 6.3 levs on the Bulgarian Stock Exchange on Tuesday.
M+S Hydraulic is an affiliate of blue-chip diversified group Stara Planina Hold [BUL:SPH].
(1 euro = 1.95583 levs)