Stara Planina Hold plans to pay 0.16 euro/share dividend for 2023

The group's management is also proposing that its subsidiaries distribute part of their 2023 profits to shareholders, Stara Planina Hold said in a bourse filing.

As part of the proposal, hydraulic equipment manufacturer M+S Hydraulic [BUL:MSH] should distribute as dividend a total of 15.77 million levs, or 0.40 levs per share. Machine engineering company Hydraulic Elements and Systems [BUL:HES] should pay out 3.82 million levs, or 0.21 per share, while cosmetics producer Bulgarian Rose [BUL:ROZA] should pay a dividend of 0.05 levs per share, or 267,549 levs in total.

Battery manufacturer Elhim Iskra [BUL:ELHM] is not expected to distribute dividend, as it posted a net loss of 688,000 levs last year, according to an earlier statement.

The proposals need to be endorsed at the companies' general meetings of shareholders.

For 2022, Stara Planina paid out a dividend of 0.31579 levs per share, M+S Hydraulic distributed 0.40 levs per share, Hydraulic Elements and Systems allocated 0.33 levs per share, and Elhim Iskra and Bulgarian Rose paid out 0.02 levs and 0.075 levs per share, respectively.

Shares in Stara Planina Hold last traded on Monday when they closed at 10.30 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)