Fazerles To Distribute 0.65 Leva Dividend Per Share

At a meeting today shareholders in Fazerles AD Silistra approved the distribution of 0.65 leva dividend per share, BSE reports.

Shareholders decided to set aside most of the net profit for 2006 which is in the amount of 2 689 407 leva to the Additional Reserves Fund and to distribute the remaining 334,750 leva as dividend.

Ex-dividend date is 26 June 2007.

The General Meeting also authorised the Board of Directors to acquire material assetsin compliance with the company's business plan.

Fazerles AD Silistra is planning to invest some 6.4 mln leva in two major projects this year. The company will build a waste water processing station which will cost 5 mln leva.

Fazerles will also purchase and install a new machine which will cost the company 1.4 mln leva.

The company's 1Q profit stands at 1.68 mln leva which is four and a half times more than a year ago (358,000 leva).

Fazerinvest controls 58,5% of the company's capital and Leo Overseas Ltd has 9,16%.

136 shares of the company changed hands today at 142.13 leva/share.

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