March 25 (SeeNews) - Bulgarian industrial group Stara Planina Hold [BUL:SPH] said that it is proposing to its shareholders to approve a gross dividend payout of 0.249 levs ($0.15/0.13 euro) per share for 2020.
The company paid 0.2456 levs per share for 2019.
Stara Planina Hold is proposing to distribute a total of 5.16 million levs as dividend for last year, which includes its profit in 2020 as well as profit from previous financial years, the company said in a stock exchange filing on Wednesday.
Stara Planina Hold's standalone net profit fell to 5.1 million levs in 2020 from 6.4 million levs in 2019.
The company is also proposing changes to its articles of association, which will empower its board of directors to launch a share repurchase programme within the next five years.
Shareholders in the company will vote on the proposals at a meeting scheduled for May 20.
As at 12:00 CET on Thursday, shares in Stara Planina Hold traded 2.42% lower at 6.05 levs on the Bulgarian Stock Exchange.
Stara Planina Hold's investment portfolio includes companies from the sectors of machine building, electrical engineering and perfumery and cosmetics.
(1 euro = 1.95583 levs)