April 19 (SeeNews) - Bulgarian drug maker Sopharma [BUL:3JR] said that it intends to skip dividend distribution for the second half of 2018 and allocate its profit for the year to its reserve fund.
The company distributed a gross dividend of 0.05 levs ($0.029/0.026) per share for the first half of 2018, and 0.11 levs for the full year 2017.
Sopharma's shareholders will vote on the proposal at a general meeting scheduled for June 7, the company said in an invitation earlier this week.
The drug maker's non-consolidated net profit fell to 33.3 million levs last year from 44.2 million levs in 2017, according to its annual financial report.
As at 8:30 CET on Friday, Sopharma shares traded 0.29% lower at 3.45 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)