Dobrudja Holding Will Not Pay Dividend, Sells Shares From Its Portfolio

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At a general meeting held 23 June shareholders in Dobrudja Holding AD-Dobrich decided that the company will not be distributing divedend for 2006, BSE reports.

Shareholders also authorized the Board of Directors to look for possibilities and to sell shares from the company's portfolio included in the consolidated report, and namely shares of Financial and Accouning Service Ltd, Technostroy Engineering AD and Federalna Slujba za Ohrana (Federal Safety Service) Ltd.

Principal shareholders in Dobrudja Holding are Development Institute AD, controlling 13.92% of the capital, and Kavarna Invest AD holding 8.38%.

The company posted a consolidated loss in the amount of 6,000 leva (3,067 euros) for first quarter, compared with 13,000 leva (6,646 euros) for the respective period a year ago.

The last transactions involving Dobrudja Holding's stock on the BSE were made March 7 at 1.42 leva per share.

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