Bulgaria's Sopharma Plans to Skip Dividend For H2 2018

Bulgaria's Sopharma Plans to Skip Dividend For H2 2018

Bulgarian drug maker Sopharma said that it intends to skip dividend distribution for the second half of 2018 and allocate its profit for the year to its reserve fund.The company distributed a gross dividend of 0.05 levs ($0.029/0.026) per share for the first half of 2018, and 0.11 levs for the full year 2017.Sopharma's shareholders will vote on the proposal at a general meeting scheduled for June 7, the company said in an invitation earlier this week.The drug maker's non-consolidated net profit fell to 33.3 million levs last year from 44.2 million levs in 2017, according to its annual financial report.As at 8:30 CET on Friday, Sopharma shares traded 0.29% lower at 3.45 levs on the Bulgarian Stock Exchange.

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