Metalopack Seeks Shareholder Approval To Distribute 0.80 Leva Dividend per Share

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Metalopack Seeks Shareholder Approval To Distribute 0.80 Leva Dividend per Share

Karnobat-based Metalopack will hold a general shareholds' meeting on May 28, 2008, the Bulgarian Stock Exchange (BSE) said. The shareholders of the company will have to decide on the distribution of 32,255.20 leva (16,500 euros) of Metalopack's profit for 2007 as dividend. The figure translates into 0.80 leva (0.40 euros) dividend per share.

The shareholders will also put to vote the allocation of the remainder of the profit, which amounts to 13,966 leva (7,140 euros), to the reserves of the company.

The final date for sealing deals in Metalopack's stock, which will enable the shareholders to exercise their voting rights at the meeting is May 12.

Metalopack booked 46,000 leva (23,500 euros) net profit for 2007, or 1.15 leva (0.58 euros) earnings per share, compared to 64,000 leva (32,720 eiros) profit and 1.59 leva (0.81 euros) earnings per share for 2006. The company raked in 607,000 leva (310,350 euros) sales revenue for 2007, compared to 561,000 (286,830 euros) revenue generated a year earlier.

The issued capital of the company amounts to 80,000 leva (40,900 euros), allocated in 40,000 shares with 2 leva par value each.

Metalopack specializes in the production of zinc-coated utensils, metal packaging and cold-rolled products. Pulding Holding owns a 51.30-percent stake of the company, while Favorit Hold and Brod Holding own 33.66 and 5.12% of the capital, respectively.

Metalopack's stock was last traded on BSE on March 4, 2004 at a price of 2.00 leva (1.02 euros) per share.

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