Kazanorgsintez could pay out 647 mln rubles in dividends for 2013
KAZAN. March 24 (Interfax) - The board of directors of Russian chemical company OJSC Kazanorgsintez has recommended paying out dividends of 30% of 2013 net profit, the company's press service said in a statement.
The company had net profit to Russian Accounting Standards (RAS) of 2.157 billion rubles in 2013, down 34%. Overall dividends could therefore total 647.1 million rubles.
For 2012, shareholders saw 0.25 rubles per preferred share and 0.5353 rubles per ordinary share, and overall dividends totaled 985.47 million rubles, or 30% of net profit. Dividends for 2013, with similar profit, could fall 34%.
The company's charter capital is 1.905 billion rubles divided into 1,785,114,000 ordinary and 119,596,000 preferred shares with nominal value of 1 ruble per share.
Kazanorgsintez is one of the leading producers of polyethylene and polyethylene pipe in Russia, turning out over 170 types of chemical products. Telecom-Management, a wholly owned subsidiary of TAIF, owns a controlling stake in the company, and another 26.6% belongs to Svyazinvestneftekhim, which in turn belongs to the government of Tatarstan.
