Bulgaria's M+S Hydraulic to pay 0.20 euro/share dividend, raise cap

M+S Hydraulic will return to investors some 15.77 million levs from its net profit of 33.1 million levs reported for last year, the company said in a bourse filing on Tuesday. The remaining sum will be retained as undistributed profit.

The dividend will be distributed over six months, starting July 18.

Additionally, M+S Hydraulic will be able to increase its capital by issuing new shares over five years.

M+S Hydraulic is an affiliate of local diversified group Stara Planina Hold [BUL:SPH]. As of 1442 CEST on Thursday, shares in M+S Hydraulic traded 2.78% higher at 11.10 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)