EC to help Bulgargaz
The European Commission has approved giving the Bulgarian government 120 million euros which will go to the public supplier of natural gas Bulgargaz.
The money should serve as guarantees for taking new loans from the company to ensure its liquidity after Gazprom unilaterally terminated the contract for the supply of natural gas to Bulgaria in 2022.
This is the second batch of state aid that the commission has approved following the allocation of 400 million euros to Bulgargaz in October.
Aurubis profit dwindles by more than one third
Copper producer Aurubis Bulgaria, which has been the largest company in the country in terms of turnover for three consecutive years, has seen its profit slashed by 36% for the last 12 months.
The result at the end of September was 148.3 million euros (290 million leva) compared to 232 million euros for the previous period, according to the report of the German group for the financial year 2022-2023. The decrease is not a surprise, as in the spring the plant next to Pirdop and Zlatitsa had a work stoppage for scheduled repairs.
The data conform to international accounting standards and do not completely coincide with the financial year, but they give an idea of what can be expected in the Bulgarian report of the company.
Palms Bet pays dividend again
The publicly traded Telematic Interactive will distribute 5.18 million levs in dividends, it was announced to the Bulgarian Stock Exchange on December 20. The Bulgarian betting company (casino owner), which went public in 2021, will distribute 40%, per share (38%, net to individuals after tax) following a decision at a general meeting of shareholders on Tuesday 19 December.
The company has already paid out nearly 13 million levs (gross 1 lev per share) in the summer of 2023. At a price of 14.5 levs per security, to date the annual dividend yield reaches 9.6%, which is one of the highest levels among public companies.
In the articles of association of the company that owns the betting site Palms Bet, it is written that a minimum of 40% of the profit is distributed in the form of a dividend.
EC to help Bulgargaz
The European Commission has approved giving the Bulgarian government 120 million euros which will go to the public supplier of natural gas Bulgargaz.
