BACB Shareholders to Decide on 1.5 Leva Dividend per Share for 2007

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BACB Shareholders to Decide on 1.5 Leva Dividend per Share for 2007

The Supervisory Board of the Bulgarian American Credit Bank (BACB) will seek approval at a general shareholders' meeting to distribute 18.94 million leva (9.68 million euro) of the bank's profit for 2007 as dividend.

The gross dividend per share amounts to 1.50 leva (0.76 euro), X3News reports.

The remaining 32.16 million leva (16.44 million euro) profit of the bank for 2007 will be allocated to the Reserves Fund.

BACB booked 51.1 million leva non-consolidated net profit for 2007, the audited report of the bank shows. The consolidated net profit amounted to 53.114 million leva.

The Bulgarian American Enterprise Fund (BAEF) signed a contract to sell 49.99% (6,311,100 shares) of the capital of BACB to Allied Irish Banks PLC.

The value of the deal amounts to 216,196,551.85 euro, which translates into 67 leva per share.
A total of 750 shares in BACB changed hands to day at an average price of 72.17 leva apiece.

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