ELANA Agrocredit

Farmland deals of the total value of BGN 2 mln. strikes ELANA Agrocredit only in the month of September, according to the report in the monthly newsletter for investors.

The total investment in purchasing land for farmers and business loans for them reaches BGN 61 mln. at the end of September 2017. BGN 55.5 mln. is invested so far in land purchase through leasing contracts for farmers. The total land in contracts is up to 7 000 ha. The value of the loans for farmers with leasing contracts went to BGN 5.5 mln.

ELANA Agrocredit expects 50% raise of loan portfolio next year

The company started in September reviewing loans and based on the data of new and reviewed loans, a forecast is made that 50% growth of loans portfolio can be expected in the agricultural 2017/2018 year. A total of BGN 8 mln. is to be the size of the portfolio.

Successful cost management

Based on the successful start of collecting the annual instalments as of 15 September, ELANA Agrocredit management decided to pay in advance the tranche A of EBRD first loan, which is actually with the highest interest rate. 91% of the company clients paid out the installments due. The first credit line with EBRD was contracted in 2014, and a second one – later in 2016.

Back in July 2017, ELANA Agrocredit placed successfully its first bond issue of EUR 5.26m.

It is expected to be listed for trading on the Bulgarian Stock Exchange.

Dividend 2017 was paid on 22nd August

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.

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