Stara planina hold doubles dividend
Stara planina hold (5SR BU) raises payout ratio and doubles proposed dividend per share, according to a filing with the Bulgarian Stock Exchange.
The management of group proposes 90% payout from 2015 profits or BGN 4.3m to be distributed as dividends. This entails BGN 0.205 dividend per share or twice the previous dividend and a 5.58% dividend yield at current quotes.
Dividends also at the group companies
The group’s management also proposes a 25% raise in Hydraulic Elements and Systems (4HE BU) subsidiary’s DPS, thus increasing DY to 6.35% at current quotes. The rest of the subsidiaries will see dividends decline with smallest decline in M+S Hydraulic’s (5MH BU) DPS and largest decline in Bulgarian Rose’s (5BH BU) DPS.
About Stara planina hold
Stara planina hold was found in 1996 and participated in the mass privatization in Bulgaria. It restructured its portfolio of assets in the next years to focus on machine building, electrical equipment, pharmaceutical and cosmetics and textile sectors. The Holding is active in the management of its subsidiaries and provides financial support for the investment project of the different companies. The policy to redistribute funds for the subsidiaries proved to be the key factor for the development of the Group as it managed to increase several times the revenues without acquisitions of new assets.
Read Stara planina hold corporate profile by ELANA Trading analysts