TransContainer receives 500 mln rubles in dividends from Kazakh JV
MOSCOW. March 29 (Interfax) - TransContainer has received its first significant dividends from its participation in a joint venture with Kazakh railways in 2016.
According to a company report, Logistic System Management B.V., the holding company through which TransContainer and Kazakhstan Temir Zholy each control 50% in Kedentransservice, paid out 1.02 billion rubles to shareholders, which means both participants in the joint venture received slightly over 500 million rubles each. The report did not specify for what period those dividends were calculated for.
TransContainer earlier reported that it would receive this sum. In its previous report it revealed that in January 2016 it had received 145 million rubles in dividends from Logistic System Management. The company did not report dividends from the joint venture in previous years before that.
Kedentransservis operates 19 railway terminals in Kazakhstan. TransContainer invested in the company in 2011 "to enable the group to enter Kazakhstan railway service market."
