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Bulgaria's Oil and Gas Exploration and Production plans lower dividend for 2016

Bulgaria's Oil and Gas Exploration and Production plans lower dividend for 2016 Author: NIS. License: All rights reserved.

SOFIA (Bulgaria), June 5 (SeeNews) - Bulgaria's Oil and Gas Exploration and Production [BUL:4O1] said on Monday it plans to distribute a gross dividend of 0.29 levs ($0.16/14.8 euro) per share for 2016.

The company will seek approval to distribute a dividend of 3.55 million levs out of its 2016 profit at a general shareholders meeting on July 14, Oil and Gas Exploration and Production said in a bourse filing.

In 2016, the company distributed a gross dividend of 0.33 levs per share, or a total of 4.03 million levs.

Oil and Gas Exploration and Production's net profit decreased to 4 million levs in 2016, from 5.4 million in 2015, according to the company's annual financial statement.

Oil and Gas Exploration and Production's activities include prospecting, exploration, development and exploitation of oil and gas fields, as well as processing of crude oil into final p­roducts.

The company shares closed 1.56% lower at 6.3 levs on the Bulgarian Stock Exchange on Monday.

(1 euro = 1.95583 levs)

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