The General Meeting of shareholders in Hydraulic Elements and Systems approved the allocation of 338,000 leva for dividend payments or 0.123903 leva gross dividend per share.

Dividend payment starts September 3 and ex-dividend date is 26 June 2007.

Shareholders also decided to set aside 1.611 mln leva to the Additional Reserves Fund and 50,000 leva to the General Reserves Fund.

Net sales revenues of Hydraulic Elements and Systems stand at 17.196 mln leva for 2007 1Q which is 13.18% up from last year's 1Q (15.193 mln leva).

Net profit for the period stands at 1.257 mln leva against 936,000 leva a year ago.

There were no transactions involving the company's stock on the BSE today, bids and asks stayed at 25.51 and 25.98 leva respectively.