IBS stockholders confirm $0.32 dividends for 2012 financial year
MOSCOW. Sept 4 (Interfax) - The stockholders in software and IT services company IBS Group Holding, Ltd. have approved paying dividends of $0.32 for the 2012 financial year that ended on March 31, 2013, a company statement says.
There are 22,110,224 IBS Group shares, not counting treasury stock, so the total dividend payout will top $7 million.
The company paid $0.96 dividends for the 2011 financial year.
IBS made $29.9 million in net profits during the 2012 financial year, down 28.6% from $40.9 million the year before. Sales revenues were up 6.6% at $870.3 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) slipped 5.8% to $75 million and the market from 9.8% to 8.6%. The group's net debt stood at $41.1 million on March 31, versus $24 million a year previously.
IBS Group, Russia's largest software and IT services group, has operations in Russia, Ukraine, Poland, Germany, the UK, Switzerland, Vietnam, Canada, Romania, the United States and Singapore.
IBS shareholders sold 32% of the company for $109 million at the end of 2005 in a private offering to international investors. Global Depositary Receipts (GDR) on the shares of IBS Group Holding are listed in Frankfurt.
Now 43.5% of IBS shares are traded in the form of GDR. IBS's principal shareholder and president, Anatoly Karachinsky, through BXA Investments Ltd., controls 37.7% of the company and owns GDR on 5.6% of shares. Another 20.2% of stock is held by Croyton Ltd on behalf of Karachinsky and IBS chief executive Sergei Matsotsky. Karachinsky and Matsotsky together control 63.5% of IBS.
