March 17 (SeeNews) - Bulgarian hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] said on Friday that it is proposing to its shareholders to approve the distribution of a gross dividend of 0.40 levs ($0.21/0.20 euro) per share for 2022.
M+S Hydraulic plans to pay out to its shareholders 15.77 million levs out of its profit reported for last year, with the remainder to be allocated to undistributed profit, the company said in a filing to the Bulgarian Stock Exchange.
In 2021, M+S Hydraulic distributed a gross dividend of 0.30 per share, or a total of 11.83 million levs.
The shareholders will vote on the proposal on May 18. If approved, the gross dividend will be paid out starting July 14 over a period of six months.
M+S Hydraulic's standalone net profit surged to 32.9 million levs last year from 18.9 million levs in 2021.
Shares in M+S Hydraulic closed flat at 9.90 levs on the Bulgarian Stock Exchange on Thursday.
M+S Hydraulic is an affiliate of blue-chip diversified group Stara Planina Hold [BUL:SPH].
(1 euro = 1.95583 levs)