GV Gold to pay 9.151 rubles per share div for H1 2012
MOSCOW. Sept 14 (Interfax) - Shareholders in OJSC Vysochaishy (GV Gold) accepted a dividend of 9.151 rubles a share for H1 2012 at an extraordinary meeting on September 14, the gold miner said in a statement.
The total payout should come to 503.157 million rubles.
The company paid 5.18 rubles per common share for the first half of 2011 or a total of 269.826 million rubles, so GV Gold will increase its payout by 77% for the first half of 2012.
The company paid its shareholders 337.436 million rubles for 2011's results (6.137 rubles per common share), up 30% from 2010.
The company increased gold production by 43% year-on-year to 2.69 tonnes in the first half of 2012. Sales revenue went up by 69% to 4.248 billion rubles. GV Gold plans to produce 5.2 tonnes this year.
The company's charter capital is 109,967,078 rubles divided into 54.9838 million common shares at a face value of 0.002 rubles each. The company held a private placement in August 2011, through which EBRD acquired 5.26%.
GV Gold is a private gold production company. Institutional investors in the company include BlackRock fund and the European Bank for Reconstruction and Development (EBRD). The company's gold ore and placer deposits are located in the Irkutsk region and Yakutia. The bulk of production is done at the Golets Vysochaishy field in the Irkutsk region. According to Russia's Union of Gold Producers, GV Gold is eighth leading gold producer in the country in terms of total output.
