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Highlights of Bulgarian stock market: 13 – 19 September 2019
Highlights from ELANA Weekly Wrap-Up for 13 – 19 September 2019
Bulgarian stocks book best Q1 since the start of 2014
The main index of Bulgarian stocks SOFIX added 8.11% q/q in 1Q17, best performance since the start of 2014. The index booked fourth consecutive quarter on the upside adding 43% since the last down quarter – 3Q16. Generic drug pharma company Sopharma (3JR BU) contributed most to SOFIX’ performance over the quarter, adding 31% q/q… Read more
2017 dividend season started
First dividend news came out with the publication of audited FY 2016 reports yesterday. Regular dividend providers REITs are investors’ favourites on dividends since by law they are obliged to distribute 90% of their profits as dividend. Biggest land REIT in Bulgaria Advance Terrafund (6A6BU) provisions BGN 0.154 DPS, yielding 7.3% at current quotes, according… Read more
Advance Terrafund sold farmland for BGN 685k in Jan’17
Advance Terrafund REIT (6A6 BU) sold farmland for BGN 685k in January 2017, the Company announced in a statement. It sold 472 dca of arable land for an average price of BGN 1 450/dca. The plots were part of a 2015 financial leasing contract, thus the average selling price should include a preliminary negotiated return… Read more
Advance Terrafund REIT to deliver higher dividend than expected
The most well regarded dividend stock in Bulgaria, Advance Terrafund REIT, outperformed guidance again, delivering better than expected results. FY2016 land sales came 25% above management guidance and 67% above our expectations with 15 168 dca sold over the last 12 months. Тhe average price was BGN 1 318 per dca, down 4% y/y, entailing… Read more
Advance Terrafund sells another 1 069 dca of farmland in December 2016
Biggest land REIT, Advance Terrafund sells another 1 069 dca of farmland in December with full year sales reaching 15 168 dca, according to the fund’s regular monthly newsletter. Overall fund’s performance for the FY2016 is above ELANA Trading analysts’ expectations. Farmland deals 2016 The Company’s annual sales revenues to reach BGN 20m with an… Read more
Advance Terrafund REIT expects 4.9% dividend yield for 2017 distribution
Advance Terrafund REIT expects rents and land prices to decline in the midterm on agricultural products oversupply and decline in cereal prices. The Company held a regular meeting with investors on Nov 15th 2016. It already announced 8% y/y decline in rents for the 2016/2017 farm year, starting Oct 1st 2016. Arable land prices have… Read more
SOFIX ETF gets BGN 22m inflow and considers cross listing abroad
The first SOFIX EFT – Expat Bulgaria SOFIX UCITs ETF gets BGN 22m cash inflow from local pension funds, considers cross listing abroad, the fund manager Expat Asset Management announced in a statement. The inflow is one of the highest since the end of 2008 crisis. As a result SOFIX is at a two year… Read more
Dividend yield of Advance Terrafund to average 5% for 2015
Five year average dividend yield of Advance Terrafund stood at 12.3% distributing BGN 125m to investors for the period – concluded ELANA Trading analysts in their latest research report on the largest land REIT in the country on the basis of earnings Q4 2015.
Bulgarian farm land prices poised to grow, land rents to be up 5%
Bulgarian farm land prices will continue to grow, 5-10% y/y rise in 2016, while rents will stabilize or be up by no more than 5%.
