Mostotrest boosts 2012 div 10% to 7.8 rubles a share
MOSCOW. July 4 (Interfax) - Shareholders in bridge builder Mostotrest voted at their annual shareholders meeting to accept a dividend of 7.8 rubles a share for 2012, the company said in a statement.
The overall payout will be 2.201 billion rubles, or 10% more than the 2.004 billion rubles paid for 2011 and 51% of net profit to International Financial Reporting Standards (IFRS). The dividends will be paid within 60 days.
The company is owned 38.6% by Marc O'Polo Investments, whose beneficiary shareholders are Arkady and Igor Rotenberg and top-managers of N-Trans, including Konstantin Nikolaev, Nikita Mishin and Andrey Filatov; and 27.3% by Transfingroup Asset Management Company, trustee of Blagosostoyanie Pension Fund. The free float is 34.1%.
The AGM elected a board of 11 directors, comprised of Vladimir Vlasov, CEO and Leonid Dobrovsky, deputy CEO; three representatives of NPV Engineering, Georgy Koryashkin, the company's head, and Maria Zhurba and Irina Makanova; two Blagosostoyanie representatives, Vadim Korsakov and Yury Novozhilov, the fund's head; Deputy CEO of CJSC Severgrupp, Mikhail Noskov; Russian Railways (RZD) Vice President Oleg Toni; and two representatives of the Investor Protection Association, Alexander Shevchuk and Denis Kulikov. Kulikov replaced Arnout Lugtmeijer, CEO of Vopak E.O.S., on the board.
The AGM also confirmed Gross Audit as auditors to Russian Accounting Standards (RAS) and KPMG as auditors to IFRS for 2013.
Mostotrest is the largest diversified infrastructure and bridge-building company in Russia. The company was established in 1930 as a developer of complex and oversized bridges. Mostotrest is currently implementing major infrastructure development projects across Russia, including transport infrastructure for the 2014 Sochi Olympics, Enthusiasts Avenue traffic interchange in Moscow, as well as infrastructure projects along M-4 Don, M-7 Volga and other highways.