May 16 (SeeNews) - Bulgarian software developer Sirma Group Holding [BUL:SKK] said it plans to distribute a dividend of 0.01 levs ($0.006/0.005 euro) per share from the company's net profit in 2016.
The company has proposed a dividend payout of 593,605 levs, from last year's net profit of 1.64 million levs, Sirma Group said in a bourse filing on Monday.
The proposal is subject to approval by the company shareholders meeting which will take place on June 15.
The dividend payout will be the company's first since its IPO in 2015.
Ten percent of the 2016 net profit will be allocated to reserves, while undistributed profit will amount to 885,090 levs, according to the proposal.
Sirma Group Holding, founded in 1992 simultaneously in Bulgaria and Canada, employs more than 300 and operates on five continents. The company is active in semantic technology, mobile applications, enterprise resource planning, business intelligence, electronic government, financial and bank services.
(1 euro = 1.95583 levs)