Lenenergo to increase pref dividends for 2010 by 17%
ST. PETERSBURG. May 11 (Interfax) - Shareholders in OJSC Lenenergo voted at their AGM on June 21 to pay ordinary-share dividends for last year, but to pay 4.0804369 rubles per preferred share, a 16.8% increase over the 3.4933366 rubles paid on prefs for 2009, an Interfax correspondent reports from the meeting.
The company paid no ordinary-share dividends for 2009, either.
Lenenergo increased net profits to Russian Accounting Standards (RAS) by 16.8% last year to 3.806 billion rubles.
Lenenergo is the biggest regional electricity grid company in Northwest Russia. The enterprise serves 87,100 square kilometers of territory with a population of over 6 million people. The company's electricity grid system consists of 38,880 kilometers of overhead power lines, almost 16,000 kilometers of cable, and over 13,800 substations of varying tension capacity.
The genco's charter capital is 1,019,285,990 rubles divided into 926,021,679 ordinary and 93,264,311 preferred shares with par value of one ruble apiece.
The main shareholders in the company are OJSC IGDC Holding with 50.31% of ordinary shares and the St. Petersburg city administration with 25.16%.