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Bulgaria's Svilosa skips dividend for 2018

Author Mario Tanev
Bulgaria's Svilosa skips dividend for 2018 Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), June 24 (SeeNews) - Bulgarian cellulose producer Svilosa said that its shareholders have approved the company's plans to skip dividend distribution for 2018.

Svilosa's shareholders endorsed the proposal at a general meeting held of June 17, Svilosa said in a commercial register filing.

The company turned to a non-consolidated net profit of 251,000 levs ($146,000/128,000 euro) in 2018 from a net loss of 6 million levs in 2017.

Svilosa was delisted from the Bulgarian Stock Exchange earlier this year, after its majority owner A.R.U.S. Holding carried out a buyout bid.

Svilosa, through its unit Svilocell, is the largest producer of bleached kraft pulp in Bulgaria.

(1 euro = 1.95583 levs)