June 09, 2014 09:27
VSMPO-Avisma to pay record dividend to 533.91 rubles a share for 2013
MOSCOW. June 9 (Interfax) - Shareholders in VSMPO-Avisma (MOEX: VSMO) voted at their annual shareholders meeting to accept a dividend of 533.19 rubles per ordinary share for 2013, the titanium producer's press office told Interfax.
The register of shareholders entitled to the dividends closes on June 17.
The total payout will exceed 6.1 billion rubles or 82.6% of net profit to Russian Accounting Standards (RAS), which grew 1.6% to 7.451 billion rubles last year.
VSMPO-Avisma paid a total of 3.226 billion rubles at 279.83 rubles a share for 2012.
VSMPO-Avisma has 11,529,538 issued ordinary shares, par value 1 ruble each.
This is the second year running that the company has broken its own dividend record. Russian companies have tended to be generous following costly transactions by their shareholders. Power Machines (MOEX: SILM), which had never paid dividends, suddenly paid 17.3 billion rubles out of retained earnings for 2013 after a firm controlled by Alexei Mordashov bought minority shareholders out, easily covering the majority shareholder's costs.
Shareholders elected a seven-seat board, which includes: Mikahil Voevodin (the CEO), Andrei Zokin (Gazprombank Vice President), Nikolai Melnikov (First Deputy CEO), Vladimir Tankeev (advisor to the CEO), Vladislav Tetyukhin (advisor to the CEO), Sergei Chemezov (Rostec chief, who led the previous board of directors) and Mikhail Shelkov (head of the board's investment committee). Eight candidates were nominated, but Rostec Deputy CEO Vladimir Artyakov was not elected to the board.
CJSC KPMG was selected to audit the company in 2014.
Gazprombank (MOEX: GZPR) reduced its stake in VSMPO-Avisma to 0.28% from 15.55% in February 2014, selling the stake to top management at the corporation. Gazprombank Vice President Andrei Zokin said the sale price was "a little over the current market quotes." The day before the deal was announced the stake was workth 14.35 billion rubles on the Moscow Exchange (MOEX: MOEX). Sberbank (MOEX: SBER) provided management with the loan to buy the VSMPO-Avisma shares.
After the deal in February, company management increased its stake in VSMPO-Avisma to 65%.
Rostec owns a blocking stake in the company.
Pr me ak
(Our editorial staff can be reached at firstname.lastname@example.org)
May 28, 2016
Slain Armenian family's successors seek 450,000 euro compensation from Russia
Calls on Rome to solve sanctions problem with Russia should continue - Forte dei Marmi mayor
St. Petersburg policeman gets suspended sentence for beating pastor
Kyiv reaffirms loyalty to West by appointing Rasmussen as presidential advisor - political analyst Pavlovsky
Kyiv lifts sanctions on 29 foreign journalists, including Russia's - Poroshenko's decree
Italian man becomes new Vatican ambassador to Russia
Syrian troops to attack terrorist positions with support from Russian Aerospace Forces - Syrian ambassador to Russia
Eight "A" doping samples of Russian athletes from London Olympics test positive (Part 2)
Eight "A" doping samples of Russian athletes from London Olympics test positive
IOC NOTIFIES ROC OF POSITIVE RESULTS OF TESTS ON EIGHT "A" SAMPLES TAKEN FROM RUSSIAN ATHLETES DURING LONDON OLYMPICS - RUSSIAN OLYMPIC COMMITTEE'S STATEMENT
Control over Raqqa freed from terrorists must be handed over to Syrian authorities - Kosachyov (Part 2)
No significant risk of Zika virus spread during Rio Olympics - Rospotrebandzor chief
Control over Raqqa freed from terrorists must be handed over to Syrian authorities - Kosachyov