Agricultural land leasing company ELANA Agrocredit (0EA BU) joins bluechip index SOFIX for the first time, the Bulgarian Stock Exchange announced in the new rebalancing to become effective as of 25 September 2018. The second newcomer in the index is industrial products manufacturer M+S Hydraulic (5MH BU). The two stocks are replacing Industrial Holding Bulgaria (4ID BU) and diversified group Doverie United Holding (5DOV BU).
The next rebalancing will take place in March 2019.
The index presenting the most liquid REITs – BG REIT – has no changes within current rebalancing. The BGBX40 has 5 newcomers.
Latest from ELANA Agrocredit
At the end of July 2018 ELANA Agrocredit reported a total investment in farmland purchases of BGN 67 million based on financial leasing contracts with farmers. The investment was made for land plots of total 8 190 ha. The company has also supported its clients via working capital loans of BGN 8.8 million.
35% growth of investment in H1 2018
35% up in H1 2018 investment in farmland, reported ELANA Agrocredit earlier this summer. A total of BGN 6 million was the value of leasing contracts from January to June – in the same period last year the deals amounted at a total of BGN 4 480 000.
Investors’ safe-haven dividend stock
Back in March, ELANA Agrocredit’s shareholders approved BGN 0.0858 DPS. The latter dividend yields approx.. 7% at current market quotes, which ranked ELANA Agrocredit as the best dividend payer this dividend season.
The company stocks are preferred on the stock market because 90% of the profit is being distributed as a dividend every year by rule. This low-risk investment brought 5.9% dividend yield from its first year profits and 4.1% per share from 2015 earnings. In 2017 shareholders gained 5% dividend yield from 2016 profits.