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Korado Bulgaria planning flat dividend for 2020

Korado Bulgaria planning flat dividend for 2020 Author: Korado. Licence: All Rights Reserved.

SOFIA (Bulgaria), April 29 (SeeNews) - Steel radiator manufacturer Korado Bulgaria [BUL:KBG], part of Czech Republic-based Korado Group, said on Thursday that it is proposing to its shareholders to distribute a gross dividend of 0.29 levs ($0.18/0.15 euro) per share for 2020.

The company's shareholders will vote on the proposal at a general meeting scheduled for May 19, Korado Bulgaria said in a statement.

Korado Bulgaria distributed a gross dividend per share of 0.29 levs for 2019 as well.

In March, the CEO of Korado Group, Vojtech Chamek told SeeNews in an interview that Korado Bulgaria will stick to its dividend payment policy, following a robust performance through the crisis-ridden 2020 thanks to support from its parent.

Korado Bulgaria's net profit increased to 4.6 million levs in 2020 from 4.4 million levs in 2019.

As at 14:40 CET on Thursday, Korado Bulgaria's shares traded unchanged at 7.05 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)