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Graphisoft board proposes no dividend on 2005 profits

The board of architecture software developer Graphisoft Rt will propose to an annual shareholders' meeting to convene on April 28 placing all of 2005's after-tax profit of €1.486 million into profit reserves, paying no dividend, the company said in a stock exchange statement. Graphisoft did not pay a dividend on 2004's profits either.

The AGM will also decide on Graphisoft's earlier announced plan to separate its software development activities from its real estate activities. Graphisoft announced at the end of March it plans to put its real estate activities into a separate company and offer its shareholders shares in the new company, which it will then list on the stock exchange. Graphisoft said the board would put the initial proposal to shareholders at the April 28 AGM, and the final plan would be submitted for shareholder approval at an EGM in June, allowing the entire procedure to be completed by year-end.