July 21 (SeeNews) - Bulgarian cigarette filters maker Yuri Gagarin [BUL:YGAG] said that its shareholders have approved the company's plans to skip dividend distribution for 2020.
The company did not pay dividend for 2019 either.
According to the decision which was adopted at a general shareholders meeting held on July 16, the company will allocate its entire 2020 net profit, amounting to some 822,000 levs ($494,800/420,300 euro), to retained earnings, Yuri Gagarin said in a bourse filing earlier this week.
As at 12:00 CET on Wednesday, Yuri Gagarin shares traded flat on the Bulgarian Stock Exchange at a price of 5.00 levs apiece.
(1 euro = 1.95583 levs)