June 21 (SeeNews) - Steel radiator manufacturer Korado Bulgaria [BUL:KBG] said on Wednesday that its shareholders approved the distribution of the remaining half, or 0.10 levs ($0.06/0.05euro) per share, of the overall gross dividend for 2022.
The total amount to be paid out to investors for 2022 stands at 2.64 million levs, equal to 60% of last year's net profit of 4.38 million levs, Korado Bulgaria said.
Shareholders have already been paid out 0.10 levs per share, or some 1.32 million levs, for the first half of 2022.
In light of today's approval, the total dividend that Korado Bulgaria will pay for 2022 stands at 0.20 levs per share, against 0.29 levs per share for the full year 2021.
In March, the manufacturer, which is part of Czechia-based Korado Group, said it will ask its shareholders to authorise the payment of a lower dividend for 2022 in order to boost its war chest for further acquisitions.
Shares in Korado Bulgaria traded 1.22% higher at 4.96 levs on the Sofia bourse at 1153 CEST.
(1 euro = 1.95583 levs)