May 8 (SeeNews) - Bulgarian construction company Trace Group Hold [BUL:T57] said on Wednesday it plans to pay no dividend for 2012.
The company intends to allocate its entire 2012 net profit, amounting to some 3.48 million levs ($2.34 million/1.78 million euro), to the Development Fund, Trace Group Hold said in a statement filed with the Bulgarian Stock Exchange (BSE).
Shareholders will vote on the proposal at a general meeting scheduled for June 19.
Last year, the company also skipped dividend payment and allocated its 2011 net profit of 6.2 million levs to the Development Fund.
Trace Group Hold shares last traded 2.07% lower at 3.26 levs by 1440 CET on BSE.
(1 euro = 1.95583 Bulgarian levs)