The leading Bulgarian tobacco producer, Bulgartabac Holding, proposes BGN 4.20 DPS yielding 10.50% as of the last closing price prior to dividend announcement. “The proposal is at the higher dividend range revealed by the company at the beginning of 2015 and is above our estimate” – pointed out ELANA Trading analysts.
It is to be put on vote at the regular Annual General Meeting of Shareholders scheduled for July 16th, 2015.
Bulgartabac shares went 50% down in the last 12 months to BGN 39 per share. For Q1 2015 the holding company reported 30% consolidated earnings decline.
Read more in ELANA Trading equity research on Bulgartabac