At a general meeting held yesterday, shareholders in Bulgartabak Holding AD Sofia approved to pay out 19.375 mln leva (9.906 mln euros) as dividend, or 2.63 leva gross dividend per share (2.446 leva net dividend), BSE reports.

Shareholders also decided that 10% of 2006 profit will go to the Reserves Fund, in compliance with art. 246, paragraph 2 of the Commercial Law.

Premiums for the controlling and supervising bodies of the company will be paid from the remaining part of 2006 profit (which stands at 43.064 mln leva, or 22.018 mln euros), and will be in the amount of 25% of their 2006 income.

Shareholders also authorized the executive director to sign the contract for the purchase of property in Nessebar Beach Resort, currently owned by Blagoevgrad BT AD. The market price determined by independent experts is 2 507 000 leva (1.281 mln euros), VAT not included.

The building has 4 storeys and a total built-up area of 430 sq m, it is used for accommodation of tourists in the beach resort. The property also comprises another smaller 4-storey building with a total built up area of 123 sq m, and a 2500 sq m yard. All facilities and equipment in the building will be sold together with it.

Ex-dividend date is 11 July 2007.

Principal shareholder in Bulgartabak Holding is the Ministry of Economy and Energetics controlling 79.95% of the capital.

No transactions involving the company's stock were made on the position yesterday, bids and asks were at 32.5 leva and 33 leva/share.