Bulgaria's Sopharma plans additional dividend for 2023

The company distributed some 37.12 million levs as a first-half dividend from its 2023 net profit of 48.12 million levs, Sopharma said in a stock exchange filing.

Sopharma plans to return to investors its remaining earnings from last year, as well as some 5.19 million levs from undistributed profit and part of its additional reserves.

Additionally, some 2.46 million levs from the company's undistributed profit would be used to cover a loss from the absorption of a subsidiary in 2023.

The proposal will be put to the vote at a general meeting of shareholders scheduled for June 28.

Last June, Sopharma's shareholders approved a gross dividend payout of 0.60 levs per share for 2022, or 72.8 million levs in total, according to previously disclosed information.

As of 1425 CEST on Monday, shares in Sopharma traded 0.65% lower at 6.10 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)