Vostochny Port not to pay dividends for 2012
VLADIVOSTOK. May 8 (Interfax) - The board of directors of OJSC Vostochny Port , the largest stevedoring company at the Vostochny port in Primorye, recommended that shareholders vote at their annual general meeting on June 18 to waive dividends for 2012, the company said in a statement.
The company paid dividends only on preferred shares for 2011 in the amount of 65.76 rubles per share with par value of 250 rubles. For 2010, the company paid out 4.10 rubles per common and 43.10 rubles per preferred share.
It is not clear what the board recommended on how profit should be distributed. The company reported net profit up 26.8% to 499.582 million rubles in 2012.
At the AGM, shareholders will also be asked to approve the annual report and financials, elect a new board of directors and audit commission and confirm the auditor, as well as approve new versions of the company charter and regulation on the general shareholder meeting.
The board has recommended Moscow's CJSC Dem-Ga-Audit as auditor. This firm was also auditor in 2012.
The shareholder register for the AGM closes on May 13.
OJSC Vostochny Port specializes in transshipping black coal. The company's total handling capacity is 16.5 million tonnes a year, and its main product for handling is black coal produced in the Kuzbass. Coal exports account for 98.5% of the stevedore company's handling business, less than 1.5% is coastal shipments of coal, and 0.01% is other cargo.
The company has charter capital of 623.605 million rubles, split into 2,125,462 common and 368,958 preferred shares with par value of 250 rubles.
The offshore Eastern Stevedore Holdings, Ltd. holds 74.57% of the port's charter capital (75.07% of its ordinary stock), LLC Tansi (wholly owned by Astgik Arutyunyan) 20% (23%).
According to market players, the controlling stake in OJSC Vostochny Port is owned by Kuzbassrazrezugol . The port's press service confirms that the main shareholders are private investors close to the coal-mining business.