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Korado Bulgaria shareholders approve payout of 0.13 euro/share dividend

Korado Bulgaria shareholders approve payout of 0.13 euro/share dividend Korado Bulgaria/All rights reserved.

SOFIA (Bulgaria), May 23 (SeeNews) - Radiator maker Korado Bulgaria [BUL:4KX] said on Wednesday that its shareholders have approved the distribution of 0.26 levs ($0.155/0.13 euro) per share dividend for 2017.

The shareholders have also approved the company's proposal to have the option to distribute a semi-annual dividend, Korado Bulgaria said in a statement.

Korado Bulgaria posted a net profit 4.8 million levs in 2017, of which 72%, or 3.4 million levs, will be distributed as dividend.

The company's dividend of 0.26 levs is equal to the dividend amount paid in previous year. However, if the share capital increase carried out in 2017 is taken into consideration, the planned dividend amount is 50% higher, Korado Bulgaria noted.

Korado Bulgaria was registered in 1998 when Czech Republic's Korado Group acquired 98.2% of the originally German-Bulgarian steel radiators production plant in Strazhitsa. The plant exports its output to the markets of Romania, Ukraine, France, Hungary and Bosnia.

Korado Group is the fifth largest producer of steel panel radiators in the world.

(1 euro = 1.95583 levs)

 

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