Bulgartabac Holding To Pay Dividend for 2007

Bulgartabac Holding () will distribute part of its 13.17 mln leva (6.73 mln euros) profit for 2007 as dividend the shareholders of the company decided at a general meeting held yesterday.

The shareholders decided 1.37 mln leva (700,500 euros), accounting for 10% of the profit, to be allocated to the Reserves Fund, while 50% of the remaining sum (or 5.93 mln leva) to be distributed as dividend.

As a result the shareholders will receive 0.8 leva dividend per share. The shareholders voted down a proposal for additional remunerations for the supervisory and managerial bodies of the company.

Bulgartabac Holding booked 40.89 mln leva (20.9 mln euros) operating revenue for 2007, down by 14.21% year on year. The decline may be put down mainly to the 67.68-percent drop in the dividends of the holding company from subsidiaries in 2007, compared to 2006.

Bulgartabac Holding's royalties totaled 22.36 mln leva (11.43 mln euros) in 2007, up 2.25% year on year. The revenue from tobacco sales amounted to 9.81 mln leva (5.01 mln euros), up by 128.39%, compared to 2006.

Bids for Bulgartabac Holding's stock currently range between 20 and 26 leva per share. The asks stand at 30 and 36.5 leva per share.

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