Bulgaria's Government Demands Urgently Dividends from State Companies

Business » FINANCE | June 16, 2014, Monday // 10:33| Views: | Comments: 0
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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.

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