For a second consecutive year Petrol AD will allocate 50 per cent of its profit or 8.426 mln leva as dividend, BSE’s website announced.

This proposal will be voted at the upcoming General Meeting of Shareholders. The dividend per share will be 0,0771 leva.

Another 1.94 per cent(or 327 000 leva) of the company’s profit which amounts to 16.853 mln leva will be set aside as undistributed profit and the remaining 48.06 per cent or 8.099 mln
will go to the company’s Reserves fund.

Last year the company allocated a dividend of 0.0066 leva per share and 0.1192 leva per share in the previous year.

The decision for the sale of the subsidiary Petrol Storage Ltd will also be voted at the general meeting. The shares of the company will be purchased by the main shareholder - Petrol Holding AD. The deal is worth 50 mln leva according to an independent evaluation attached to the report.

Petrol Holding controls 69.9 per cent of the company’s capital while Nafteks Oil Shipping Corporation Limited(UAE) owns 18.84 per cent.
The final date for transacting the shares of this company as a result of which the holder shall be entitled to exercise their voting rights at the General Meeting of Shareholders is May 22, 2007.

7 shares of this company changed hands yesterday at a price of 4.75 leva/share or 1.66 per cent less than in the previous session.