ELANA Agrocredit shareholders approved dividend yielding 7% per share

ELANA Agrocredit

ELANA Agrocredit

ELANA Agrocredit’s (0EA BU) shareholders approve BGN 0.0858 DPS, the Company announced in a regulatory notice following the shareholders meeting held March 15th, 2018. The latter dividend yields 7% at current market quotes.

Shareholders as of 14 days after the meeting’s decision have the right to receive a dividend. The dividend record date should be March 29th, 2018.

Raising new capital

Currently, ELANA Agrocredit is raising BGN 21.8 mln. in a 1:1 capital raise offering 18.9m new shares to be subscribed at BGN 1.10 per share. According to the approved by regulator prospectus, the offering will be considered successful by subscription of minimum of 10 mln. shares.

The capital raise ends April 17th, 2018 while pre-emptive rights allowing every investor to take part in the raise can be traded by March 22nd 2018 on the Bulgarian Stock Exchange.

The unused rights auction will be held on March 29th, 2018.

Latest performance of ELANA Agrocredit

Over BGN 71 mln. invested in financial leasing contracts and working capital loans since start of business in 2013 till end of February 2018. The company managed to grow loans to farmers in farming business year 2017/2018 by 50% as planned. 7 665.2 ha is the total size of the land plots purchased for farmers through the leasing contracts.

Check the Company’s February Investors’ bulletin

Check the latest equity research reports by ELANA Trading in investors’ hub ELANA Online