CORRECTED: Channel One set to pay 14.4 mln rubles in dividends for 2012
(fifth paragraph of news item issued at 18:45 p.m. on June 24 adjusted)
MOSCOW. June 25 (Interfax) - The controlling shareholder in the Channel One television network, the state, recommended that the company pay 5% of net profit as dividends for 2012.
The government specified the dividend payment in an instruction to the Economic Development and Communications and Mass Media ministries and to Rosimushchestvo, which drew up the directive for how the state's stake was be voted at the AGM.
Channel One held its AGM on June 20. The results of the meeting have not been disclosed.
Channel One's net profit plunged almost 90% to 287.7 million rubles in 2012.
Channel One did not originally intend to pay a dividend for 2011, opting instead to reinvest that year's net profit of 2.785 billion rubles. But ultimately it was decided to pay 278.5 million rubles or 10% of net profit as dividends for 2011. The company paid a dividend totaling 83.513 million rubles for 2010, when it posted a net profit of 1.046 billion rubles.
The company's charter capital totals 10,000 rubles split into 1,000 ordinary, 10-ruble shares. Rosimushchestvo has 38.9% of shares, 25% belong to RastrKom-2002 LLC, 24% to ORT-KB LLC, 9.1% to ITAR-TASS and 3% to Ostankino Television Technical Center.
Channel One boosted revenue 0.7% to 29.08 billion rubles in 2012 under Russian accounting standards. Advertising revenue totaled 28.2 billion rubles.
