December 9 (SeeNews) - Bulgarian cement producer Vulkan Cement said that it is proposing to distribute a total of 64.5 million levs ($40 million/33 million euro) as dividend.
The proposed dividend distribution is equal to 142.48 levs per share, Vulkan Cement said in an invitation for a shareholders meeting.
The vote on the proposal is scheduled for December 29.
Vulkan Cement booked a slim profit of 93,000 levs on revenue of 31.7 million levs in 2019, according to its annual financial statement. At the end of 2019, the company had a total of 70.8 million levs of accumulated profit.
Ciments Francais, part of German building materials group HeidelbergCement, held 60% interest in Vulkan Cement at the end of 2019. Another unit of HeidelbergCement - Bulgaria's Devnya Cement, owned a further 28.61% interest in Vulkan Cement at the time.
Vulkan Cement operates a grinding center located in the town of Dimitrovgrad.
(1 euro = 1.95583 levs)