Samaraenergo to cut dividends 12.5% for 2011
SAMARA. June 4. (Interfax) - Shareholders in OJSC Samaraenergo approved the board of directors' 2011 dividend recommendations of 700 million rubles at their annual meeting on May 31, which is a 12.5% decline over 2010, a source close to the shareholders told Interfax.
According to the company's materials, its board of directors recommended that shareholders decide on 0.172374664 rubles per ordinary and preferred share in dividends.
Samaraenergo has charter capital divided into 521,993,080 preferred shares of par value 0.01 rubles each and 3,538,928,532 ordinary shares of par value 0.25 rubles each.
The company's preliminary data indicate that it posted net profit of 704.238 million rubles last year. Therefore, dividends will total 99.4% of net profit.
For 2010, Samaraenergo earmarked 67.6% of net profit for dividends, shelling out 800 million rubles based on a calculation of 0.1969996 rubles per preferred and ordinary share. The year before that, the company did not pay out dividends due to a net loss.
Samaraenergo purchases electricity on the wholesale market and supplies it to the Samara region's retail market.
As of March 31, Samaraenergo's nominal shareholders were CJSC Depositary Clearing Company (DCC) (89.47% of charter capital) and CJSC National Depositary Center (5.7%). LLC Energy Development, Audit owns 37.8% of its charter capital, the chairman of its board of directors Vladimir Avetisyan owns 0.000765%, and board of directors member Alexander Rozentsvaig owns 0.0285%.