28 Jun 2011 16:06

Moscow power sales co to pass on dividends

MOSCOW. June 28 (Interfax) - Shareholders in Moscow power sales company Mosenergosbyt voted at their AGM to waive the final dividend for 2010.

The shareholders will limit themselves to the interim dividend of 2.883 billion rubles paid for H1 2010. It will reinvest the 4.14 billion rubles in profit for the year.

The company passed on dividends for 2009 also, opting to reinvest that year's profit of just under 1.3 billion rubles.

Inter RAO owns a controlling stake, firms close to Gazprom a blocking stake and the City of Moscow 7.5%.

The company has 28,249,359,700 issued ordinary shares, par value 0.01 rubles each.