Elhim Iskra plans to skip dividend for 2023, raise capital

The company plans to cover its net loss of 688,476 levs reported for 2023 using its undistributed profit from previous years, Elhim Iskra said in a stock exchange filing.

Additionally, Elhim Iskra intends to increase its capital by issuing new shares over five years.

The proposals will be put to the vote at a general meeting of shareholders scheduled for June 13.

Elhim Iskra paid out a gross dividend of 0.02 levs per share for 2022, or a total of 502,168 levs.

The company's equity capital is currently divided into some 25.1 million shares of 1 lev in par value each, commercial register data show.

Shares in Elhim Iskra last traded on February 29 when they closed at 0.88 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)