SOFIA (Bulgaria), May 23 (SeeNews) – Bulgarian paper and packaging producer Unipack [BUL:3U9] said on Tuesday it will propose no dividend payout for 2016.
The company last paid dividend for 2013, distributing 0.04 levs ($0.02/0.02 euro) per share.
Unipack shareholders will vote on the proposal at a general meeting scheduled for June 29, the company said in a statement.
Unipack’s non-consolidated net profit fell to 615,000 levs in 2016, from 1.9 million levs a year earlier.
Last week, Plovdiv-based Fort company, which directly and indirectly owns 94.6% of Unipack, published a buyout bid for the remaining 122,227 shares it does not already own, at a price of 9.84 levs apiece.
Unipack, founded in 1967, produces packaging and paper materials. It is based in the town of Pavlikeni, in northern Bulgaria.
(1 euro = 1.95583 levs)