IDGC North-West may pay first-ever dividends for 2012
ST. PETERSBURG. May 21 (Interfax) - The board of directors at grid company IDGC North-West decided at a meeting on Monday to recommend that shareholders vote at their June 21 AGM in favor of dividends for last year of 0.0001614 of a ruble per ordinary share, the company's first-ever dividends, the company press service said.
The total dividend payout for 2012 would be 15.5 million rubles, another 43.3 million rubles is to go towards development, and 3 million rubles to the company reserve fund.
IDGC North-West saw its net profits to Russian Accounting Standards (RAS) plunge 84.9% last year to 61.831 million rubles.
The company's charter capital is 9.579 billion rubles split into 95.787 billion ordinary shares with par value of 0.1 of a ruble.
IDGC North-West serves the territories of seven regions in Russia's North-West Federal District that together cover 1.586 million square kilometers and where 6.69 million people reside. The company's overhead and cable power lines run for 169,300 km. The company has seven branches: Arkhenergo, Vologdaenergo, Karelenergo, Kolenergo, Komienergo, Novgorodenergo, and Pskovenergo.
