Uralkali shares display neutral reaction to IFRS results for 2011
MOSCOW. April 11 (Interfax) - The initial reaction of shares in Uralkali to the release of the company's IFRS (international financial reporting standards) results for 2011, which did not meet earlier expert forecasts, and news on dividends, have been neutral so far.
By 10:51 am Moscow time, Uralkali's shares stood at 219.83 rubles on the MICEX-RTS, which is down 0.3% from Tuesday's close. The decrease was driven by the overall trend on the exchange on Wednesday.
According to the company's IFRS results, Uralkali's net profit, including Silvinit's results, came to $1.527 billion, up 60% from 2010 (for both companies). Analysts earlier forecast the company's net profit to reach $1.719 billion for last year.
Uralkali's net profit in the second half came to $733 million (compared to a consensus forecast - $925 million).
Uralkali's board made a recommendation to shareholders that they, at their annual meeting on June 7, approve a dividend payout for 2011 at four rubles per share, the company said in a statement. The company's shareholders decided to pay interim dividends in December 2011, also at four rubles per share.
The shareholder register for taking part in the annual meeting closes on April 26.