Bulgaria's Shelly Group plans 0.13 euro/share dividend for 2023

The company plans to pay out a total of 4.59 million levs as dividend for last year, with 4.51 million levs coming from its 2023 net profit of 7.85 million levs and the rest from its undistributed profit for 2022, Shelly Group said in a bourse filing on Monday.

Of the remaining 2023 earnings, 6,000 levs would top up the company's reserve fund, while some 3.34 million levs would be retained as undistributed profit.

Additionally, Shelly Group intends to launch a capital increase reserved for employees, raising its capital from 18.05 million levs to some 18.11 million levs by issuing up to 55,331 new shares at 1 lev each.

The proposals will be put to the vote at a general meeting of shareholders scheduled for June 4.

Last year, the company paid out a gross dividend of 0.25 levs per share for 2022, or 4.5 million levs in total, according to previously disclosed information.

As of 1130 CEST on Tuesday, shares in Shelly Group traded 0.29% lower at 67.80 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)