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Bulgaria's Trace Group Hold planning to skip dividend for 2018

Author Mario Tanev
Bulgaria's Trace Group Hold planning to skip dividend for 2018 Author: Trace Group Hold. Licence: All rights reserved.

SOFIA (Bulgaria), May 20 (SeeNews) - Bulgarian construction company Trace Group Hold [BUL:T57] said on Monday that it is planning to skip dividend distribution for 2018 and retain its profit for the year, of 6.1 million levs ($3.5 million/3.1 million euro).

The company distributed a gross dividend of 0.0632 levs per share for 2017, when its profit amounted to 5.3 million levs.

Trace Group Hold's shareholders will vote on the management's proposal at a general meeting scheduled for June 26, the company said in a bourse filing.

Trace Group Hold shares last traded on the Bulgarian Stock Exchange on Friday, when they closed at 2.8 levs.

The construction company is majority owned by local private investor Nikolay Mihaylov, who holds a 66.97% stake.

Trace Group Hold's activities include rehabilitation, reconstruction and construction of roads, highways, airports, underground stations and underground railways, ground railroads and facilities, urban infrastructure and road marking.

(1 euro = 1.95583 levs)

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