Bulgarian Car Battery Maker MonBat To Pay 3.3 Mln Euro in Dividend

Bulgarian car battery maker MonBat [BUL:5MB] said on Monday it will distribute 6.5 million levs ($4.9 million/3.3 million euro) in 2010 dividend after returning no cash to its shareholders for two years.

MonBat's managing board decided to allocate to reserves 8.1 million levs of the company's 2010 after-tax profit of 14.6 million levs and to distribute the remainder as dividend, the company said in a statement, following its annual shareholders meeting.

It did not elaborate on the size of the dividend per share.

MonBat, a component of the benchmark SOFIX index of the bourse in Sofia, ended 1.11% lower at 6.58 levs in a volume of 5,194 shares on Monday.

(1 euro = 1.95583 Bulgarian levs)

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