Owners of Russian Helicopters against paying dividends for 2010
MOSCOW. July 6 (Interfax) - Shareholders in OJSC Russian Helicopters, at their annual meeting, decided against paying dividends for 2010's results, the company said in a statement.
Russian Helicopters posted net profit of 366.02 million rubles for 2010, of which the shareholders decided to earmark 30.4 million rubles as compensation for the board of directors and 220,000 rubles in compensation for the audit committee. The remaining profit will remain undistributed.
The company said that it paid dividends for 2009's results but declined to disclose the amount.
A total of nine people were elected to the company's board of directors. Deputy Minister of Industry and Trade Denis Manturov replaced Dmitry Kolodyazhnyi, the managing director of United Engine-Building Company, on the board of directors.
` Reelected to the board of directors at Russian Helicopters were the following people: general director of Rosoboronexport Alexander Mikheev, general director of OPK Oboronprom Andrei Reus and his first deputy Dmitry Lelikov, general director of Russian Helicopters Dmitry Petrov, deputy general director for legal and corporate issues at Oboronprom Pavel Osin, deputy chairman at SUN Group Shiv Vikram Khemka, independent general director and chairman of the audit committee at Alstom and Atos Origin Jean-Paul Bechat and independent advisor on aviation and the defense industry, Jean-Loup Picard.
The shareholders also approved ten transactions with companies that are part of the helicopter-building holding. Each transaction reaches a maximum of 10 billion rubles.
In addition, transactions with LLC International Helicopter Programs with a ceiling of 3 billion rubles were approved, as well as Integrated helicopter services private ltd with a ceiling of $50 million and LLC Helicopter Systems worth $150 million.
"The transactions were approved for reserving funds so that a later shareholder meeting need not be called for their approval," a spokesperson for the company said.
OJSC Russian Helicopters is a specialized management company set up in 2006 as a wholly owned Oboronprom subsidiary. The company manages helicopter producers including OJSC Mil Moscow Helicopter Plant, OJSC Kamov , OJSC Ulan-Ude Aviation Plant, OJSC, Kazan Helicopter Plant , OJSC Rostvertol, among others
