Bulgaria's Shelly to pay 0.13 euro/share dividend for 2023

The company will return to investors a total of 4.59 million levs, with 4.51 million levs coming out of its 2023 net profit of 7.85 million levs and the rest from undistributed profit for 2022, Shelly Group said in a bourse filing on Friday.

Of the remaining 2023 earnings, 6,000 levs will go towards the company's reserve fund, whereas some 3.34 million levs will be retained as undistributed profit.

Shelly Group shareholders also endorsed a proposal to increase the company's capital from 18.05 million levs to 18.11 million levs by issuing up to 55,331 new shares at 1 lev each. The capital increase process is reserved for employees in Bulgaria, Slovenia and Germany and will take take place by the end of 2024.

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

Shares in Shelly Group last traded on Friday when they closed at 70.80 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)