Avangard will consider dividends Sept 12
KYIV. Aug 26 (Interfax) - Avangard agricultural holding, the largest producer of eggs and egg products in Ukraine, will consider its dividend policy at an annual shareholder meeting on September 12.
Avangard, which had its initial public offering (IPO) on the London Stock Exchange in spring 2010, has never paid dividends, instead opting to channel all of its profit towards development.
Several Ukrainian agricultural holdings that are listed on foreign stock exchanges, namely MHP and Milkiland, have already decided this year to pay out debut dividends.
Avangard is a vertically integrated holding that specializes in producing eggs and egg products.
In 2012, its net profit was 16.3% up from 2011 to $228.23 million. Revenues expanded by 13.7% to $629.31 million.
In January-March 2013, the company saw a net profit of $60.7 million, down 16% year-on-year, although its revenues increased by 6.3% to $155.8 million.
