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Telematic Interactive Bulgaria to pay out 9.6 mln euro in cash, shares for 2021

Telematic Interactive Bulgaria to pay out 9.6 mln euro in cash, shares for 2021 Ministry of Economy/All rights reserved.

SOFIA (Bulgaria), June 24 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BSE:TIB] said that its shareholders have approved the distribution of a gross cash dividend of 10.15 million levs ($5.5 million/5.2 million euro), along with a dividend in specie in the amount of 8.64 million levs for 2021.

Telematic Interactive Bulgaria will pay out 2.35 levs per share in cash, the company said in a stock exchange filing following its general shareholders meeting on Thursday.

The dividend in specie will consist in the distribution of two new shares for each existing share held, with the balance of 33,000 levs to be referred to the company's reserve fund. The dividend in specie will triple the company's share capital to some 13 million levs from 4.3 million at present.

The total shareholder distribution represents 92% of the online betting operator's standalone profit of 20.35 million levs for 2021, as posted in its financial statement in May.

Earlier this month, Telematic Interactive Bulgaria, which owns the PalmsBet online casino brand, said that its first-quarter consolidated net profit increased to roughly 6.6 million levs from 4.55 million in the same period of 2021. The positive result came despite difficulties for its Ukrainian subsidiary CT Interactive arising from the war in Ukraine, which prompted the Bulgarian company to put on hold its expansion in that market.

As at 1116 CEST on Friday, shares in Telematic Interactive Bulgaria traded 0.20% higher at 49.80 levs.

(1 euro = 1.95583 levs)

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