TransContainer shareholders approve 2011 dividends at 35% of net profit
MOSCOW. June 26. (Interfax) - Shareholders in OJSC TransContainer approved 2011 dividends at 35% of net profit at their annual general meeting on Tuesday, the railway operator said in a statement.
Over 1.218 billion rubles will be earmarked for dividends, out of a total net profit of 3.481 billion rubles.
The company will pay 87.68 rubles per common share until August 26.
It was earlier reported that TransContainer's dividend policy foresees the payout of 10% of the company's net profit according to Russian accounting standards (RAS). However, the majority shareholder in FESCO Group, the owner of 21.1% in TransContainer, Sergei Generalov, earlier proposed paying 30% of 2011 net profit in dividends.
The operator paid dividends at 2.91 rubles per share for 2010 and earmarked 40.4 million rubles for these purposes. Therefore, dividend payouts rose 30 times for 2011.
Around 55% of TransContainer's net profit fro 2011 will go to investment (1.914 billion rubles). The operator's investment program for 2012 is planned at 6.8 billion rubles, 4.2 billion rubles of which will go to purchasing platform railcars, 600 million rubles will go to acquiring containers, 1.2 billion rubles will go to terminal development, and 900 million rubles will go to other priorities.
Equal transfers of 174.04 million rubles will go to the reserve fund, sponsorship, and charity efforts while 720,610 rubles will be paid as bonuses to members of the audit committee.
TransContainer currently operates more than 24,000 flatcars, and owns and operates around 60,000 large-tonnage container cars, as well as a network of terminals in Russia (at 46 stations) and in Slovakia.
OJSC Russian Railways (RZD) owns 50% plus one share in the operator, FESCO - 21.1%, European Bank for Reconstruction and Development - 9.25%, and the Blagosostoyanie pension fund - 5.1%.