Bulgaria's Government Demands Urgently Dividends from State Companies

Business » FINANCE | June 16, 2014, Monday // 10:33
Bulgaria: Bulgaria's Government Demands Urgently Dividends from State Companies File photo.

Bulgaria's Government demanded urgent payments of dividends from the companies with over 50% state ownership, reports Sega daily. 

With an order of June 11 the Council of Ministers demanded 70% of the profits to be paid to the shareholders by today, June 16. The state-owned hospitals are exempt. 

Sofia Airport and the Air Traffic Control companies must pay 90% and 100%, respectively. 

By law, payments of dividends must happen by July 15. It is unclear why Government gave only four business days to the companies, but, according to the media, the reason most likely is the lower than expected budget revenue.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: dividends, shareholders, state, owned, companies

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria