Bulgarian Stock Exchange Announces Distribution of 2022 Profit as Dividend
The Bulgarian Stock Exchange (BSE) has announced its decision to distribute its entire net profit for 2022 as a dividend. The BSE, which operates the Sofia bourse, reported a net profit of 6.89 million levs ($3.8 million/3.5 million euros) for the previous year. Shareholders have agreed to distribute this amount as a gross dividend.
The BSE has set an ex-dividend date of July 11, and the distribution will begin within the next 60 days. This decision follows the BSE’s payout of a total gross dividend of 6.8 million levs for 2021. Originally, the BSE management proposed to distribute 70.92% of the 2022 net profit, equivalent to 0.74 levs per share, and to increase its capital by 6.58 million levs. However, the final decision was to distribute the full net profit as a dividend.
Despite a 29% decrease in standalone net profit in 2022 compared to the previous year, dropping from 9.7 million levs to 6.89 million levs, the BSE’s decision to distribute the entire net profit reflects a commitment to providing returns to its shareholders.
This move also aligns with the BSE’s efforts to optimize its capital structure and pursue growth strategies. By distributing the net profit as a dividend, the BSE aims to reward its shareholders while maintaining a solid financial position.
The BSE serves as a key player in Bulgaria’s financial market, facilitating the trading of stocks, bonds, and other financial instruments. Its decision to distribute the full net profit as a dividend is expected to be well-received by investors and may increase interest in the Bulgarian stock market.
The BSE’s commitment to transparency and shareholder value is evidenced by its decision to distribute all profits as dividends. This approach may attract further investment and contribute to the overall growth and stability of the Bulgarian stock market.
With the ex-dividend date set for July 11, investors can expect to receive their dividends within the next 60 days. As the BSE continues to prioritize shareholder returns and optimize its capital structure, it remains to be seen how these strategies will impact its future performance and position in the Bulgarian financial market.
