Caretaker Government Required State-owned Companies to Pay Dividend

Politics » DOMESTIC | October 6, 2021, Wednesday // 23:59
Bulgaria: Caretaker Government Required State-owned Companies to Pay Dividend

The government has changed its order requiring state-owned companies to pay a dividend to the budget.

With the changes, the companies, whose majority owner is the state, are now required to pay to the treasury an interim dividend of not less than 50 percent of the profit, according to the 6-month financial report for the first half of 2021.

The deadline for paying the dividend is December 15.

The reason for this change is "because of the need to provide additional revenues in the state budget."

It is also stated that this order is in line with the government's dividend policy. This policy was developed for the needs of the medium-term budget forecast, and with the parameters set in connection with it in the State Budget Act for 2021.

These parameters included planned dividend income within current budget year.

It is reminded that in 2018, with amendments to the Public Offering of Securities Act, public companies were given the opportunity to distribute an interim 6-month dividend.

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Tags: government, caretaker, dividend
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