ELANA Agrocredit

ELANA Agrocredit will start dividend payment as of 22 August 2017. Shareholders can get their dividends till 22 November 2017. If a shareholder misses this payout deadline, they have 5 years ahead to make a request for their dividend.

ELANA Agrocredit dividends

The General shareholders’ meeting on 30 June 2017 approved gross dividend per share of BGN 0.07791. This represents 5% yield according to current market prices. The total amount to be used for dividends to shareholders is BGN 1 472 751.69.

In 2016 ELANA Agrocredit distributed BGN 0.04924 per share, which represented then 4.1% dividend yield. Back in 2015 the first dividend of the company was BGN 0.0623, which brought 5.9% yield to shareholders.

BGN 57 mln. total investment in farmers

A total of BGN 57 mln. was invested in leasing contracts for farmers to purchase land or loans for operations – this is the data from the beginning of company operation in mid-2013 till end of June 2017. BGN 51.7 mln. is provided for farmland purchase via financial leasing and BGN 5.5 mln. was provided as loans for farming. A total of 6 600 ha have been purchases for the farmers’ contracts.

ELANA Agrocredit first bond issue

In the beginning of August 2017 ELANA Agrocredit issued a EUR 5.26 mln. bond with annual coupon rate of 3.2%. With 63 months maturity and coupon payment twice a year on 15 October and 15 April. The issue was placed with 99 persons.

The bond issue will be listed for trading on the Bulgarian Stock Exchange in H2 2017. The capital raised will be invested in new financial leasing contracts for land purchase and new loans for farmers.

Funding history

ELANA Agrocredit got listed on the Bulgarian Stock Exchange in 2013 after a successful IPO, which was awarded by the local exchange for contribution to the development of the local capital market. In 2015 financial investors trusted again the business model and the company attracted new BGN 14 mln. in an SPO. ELANA Agrocredit is successful also with the debt financing – EBRD and Societe Generale Expressbank provided loans twice to boost leasing activity in farming.

ELANA Agrocredit website

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