The general meeting of shareholders in Balkan AD- Lovetch decided that the company will not pay dividend for 2006, BSE reports.

Shareholders decided to set the company's profit which is in the amount of 714 354.59 leva to the Reserves Fund.

Balkan AD Lovech's net non-consolidated profit for 1Q stands at 224,000 leva which is 109,000 leva more than a year ago.

The company has a core capital in the amount of 630,000 leva and shared capital stands at 10.226 mln leva. Napredak Holding AD and Merygold Worldwide Development control 41% and 40.33% of the capital respectively.

2252 shares changed hands on the position yesteday at prices between 18.75 leva and 19.00 leva.