Tolyattiazot might pay record dividends for 2011 results
MOSCOW. Feb 7 (Interfax) - The board of directors at OJSC Tolyattiazot has made a recommendation to shareholders that they, at their annual meeting on March 10, approve a decision to pay dividends for 2011's results at 6,759,780 rubles per common share, the company said in its materials.
The company's charter capital is divided into 431 common shares at a face value of 225,326 rubles each. Therefore, the total dividend payout for 2011's might reach a record 2,913,465,000 rubles.
The company paid dividends for 2010 at six rubles per common shares. The total payout for 2010 came to 582,693,036 rubles. Until now, the biggest dividend payout for Tolyattiazot was in 2007 at 2,912,465,000 rubles.
The company did not explain to Interfax the reasons for the increase in total dividends, saying that the board's recommendation still has not been reviewed by the shareholders.
The shareholder register for taking part in the meeting closed on February 1.
The company's net profit for 2010 came to 1.8 billion rubles. Net profit in the first nine months of 2011 totalled 4.1 billion rubles.
Tolyattiazot is one of the leading ammonia producers in the world. The enterprise's production capacity comes to over 3 million tonnes of ammonia and 960,000 tonnes of carbamide a year.
It was earlier reported that the company's main owner is its ex-president, Vladimir Makhlai. UralChem is a minority shareholder in Tolyattiazot with a 9.7% stake.
