May 30 (SeeNews) - Bulgarian civil engineering contractor Trace Group Hold [BUL:T57] said that its management is proposing the distribution of a gross dividend per share of 0.16 levs ($0./0.08 euro) for 2022.
The dividend payout amounts to a total of 3.87 million levs out of the company's net profit of 5.1 million levs for 2022, Trace Group Hold said in a stock exchange filing.
Trace Group Hold did not pay a dividend for 2021, with shareholders approving the allocation of that year's net profit of 2.3 million levs to the company's development fund. The remainder of the 2022 profit, or some 1.24 million levs, would also be allocated to that fund, according to the management's proposal.
Shareholders will vote on the proposal at a meeting scheduled for June 30.
Trace Group Hold's activities include rehabilitation, repair and construction of roads, highways, airports, underground or surface railroads and stations, urban infrastructure, and road marking. It has nine subsidiaries, including two units in Serbia where a consortium that it leads last year won a 170 million euro ($182.5 million) railway reconstruction contract.
Shares in Trace Group Hold closed flat at 3.70 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)