Agricultural land leasing company ELANA Agrocredit (0EA BU) to receive up to BGN 15m bank loan to finance its operations, the Company announced in a filing. The loan consists of two tranches: an investment loan up to BGN 15m for financing the expansion of the Company’s leasing portfolio and a working capital revolving loan up to BGN 5m.
Agricultural land leasing company ELANA Agrocredit’s (0EA BU) shareholders will vote BGN 0.058 gross DPS for FY2018 on 28th May, according to published invitation for general shareholders’ meeting (GSM) by the Company.
Agricultural land leasing company Elana Agrocredit (0EA BU) posted 31.3% y/y increase in net profit to BGN 2.4m, entailing DPS of BGN 0.058 for 2018, according to Company’s latest Q4’18 financials. The DPS exceeds the expectations of ELANA Trading analysts by 9.4%.
With investments of ca. BGN 60M since inception and favorable leasing conditions, ELANA Agrocredit’s lean business model is successfully financing small farmers. With strong demand for land and expected ongoing land appreciation in Bulgaria, it is set for growth, at the same time delivering higher than market’s average yields for its investors.
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.
In June 2018 ELANA Agrocredit invested in purchase of 700 dca (70 ha) farmland as making financial leasing contracts with farmers, the company announced in its monthly newsletter for investors. The deals amounted at BGN 729 510. That added to a total of BGN 6 033 000 investment in H1 2018.
ELANA Agrocredit successfully completed its capital increase raising a total of BGN 19.5m, the Company reported in a regulatory filing. The minimum required for success of the offering was set at 10 mln. shares subscribed (BGN 1.10 per share).
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.