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Bulgaria's Sopharma Properties shareholders approve 1.2% hike in 2021 dividend

Bulgaria's Sopharma Properties shareholders approve 1.2% hike in 2021 dividend Photo: Sopharma Business Towers

SOFIA (Bulgaria), June 20 (SeeNews) - Bulgarian real estate investment trust (REIT) Sopharma Properties [BUL:SFI] said that its shareholders approved the management's proposal for the distribution of a gross dividend of 0.166 levs per share for 2021.

Equity owners will receive a total of 3.6 million levs ($1.9 million/1.8 million euro) out of the property investment trust's net profit of some 9.1 million levs for 2021, Sopharma Properties REIT said in a stock exchange filing over the weekend.

Under the approved proposal, the balance of 5.43 million levs will be retained by the company as undistributed profit.

Sopharma Properties REIT distributed a gross dividend of 0.164 levs per share for 2020 after reporting profit of 7.04 million levs.

Sopharma Properties REIT is a subsidiary of local drug manufacturer Sopharma [BUL:SFA], which earlier this month sought approval from the Competition Protection Commission to launch a tender to acquire the 66.66% stake it does not already own in its subsidiary.

Shares in Sopharma Properties last traded on Friday, when they closed flat at 8.15 levs.

(1 euro = 1.95583 levs)

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