Stara Planina raises 2018 dividend by 6.1%, proposes DPS growth to holding companies (POSITIVE)

Stara Planina disclosed that it planned a 6.1% increase in the 2018 annual gross dividend to BGN 0.242 (3.81% forward yield). The management of Stara Planina also announced that it had proposed dividend increases across portfolio companies. Based on the disclosure, Hydraulic Elements and Systems [4HE] could be expected to increase 2018 dividend by 18.2% YoY to BGN 0.26, amounting to a 5.49% forward yield. Highest increase in per share payment is planned for Elhim Iskra [52E] – BGN 0.016, +33.3% YoY and 1.62% forward yield. M+S Hydraulic’s [5MH] gross DPS would be grown by a marginal 1.7% to BGN 0.30 for a 3.90% forward yield, while the dividend of Bulgarian Rose [4BH] would add 6.7% YoY to BGN 0.08 – 3.81% yield at the current share price.