YaTEK plans to put 83% of 2012 net profits toward dividends
MOSCOW. March 5 (Interfax) - Yakutsk Fuel and Energy Company, YaTEK, which is part of Ziyavudin Magomedov's Summa Group, made 770.2 million rubles of net profit last year versus 159.4 million rubles of net losses the year before, and plans to put 83% of those profits into dividends, the company's Russian Accounting Standards (RAS) accounting statement says.
During the company's AGM on March 21, the proposal will be made to pay dividends for 2012 of 0.772 rubles per share. YaTEK charter capital consists of 826,919,375 ordinary shares with par value of one ruble each.
The company has already paid out first-half and January-September dividends.
YaTEK sales revenues amounted to 4.7 billion rubles last year, 28% more than the year before, and sales profits were up 36% at 1.4 billion rubles.
YaTEK is the main gas producer in Yakutia and the sole supplier of gas for the entire region. Until 2010, the company was called Yakutgazprom .
