Gradus to vote on a 6-mo dividend of BGN 0.022 at an EGM on October 25th (NEUTRAL)

Shareholders of the Gradus will have to decide on distribution of BGN 5.4m as dividends. This translates to DPS of BGN 0.022 and a 7.2% yield* and a 34.4% payout for the respective period (H1’19). In case of approval, the payments will start on November 26th 2019. *based on last price BGN 1.705 and including BGN 0.10 dividend distributed earlier this year;