UTair might pay 0.12 rubles per share in dividends for 2010's results
MOSCOW. June 1 (Interfax) - OJSC UTair Airlines' supervisory board has made a recommendation to shareholders to vote for paying dividends for 2010's results at their June 30 annual meeting, the airline said in a statement. The recommended payout rate is 0.12 rubles per share.
"Owing to the positive financial results, the company will pay dividends at 0.12 rubles per share. The dividend payment will take place between July 1 and August 29, 2011," the statement said.
Therefore, the company might earmark 69.2 million rubles for dividends.
UTair paid 63.4 million rubles in dividends for 2009. The payout rate was 0.11 rubles per share.
The company's net profit according to Russian accounting standards (RAS) increased by 5.8% in 2010 to 215.4 million rubles. Sales revenue went up by 27.4% to 42.4 billion rubles.
The main shareholder in UTair is Surgutneftegas' pension fund. The fund acquired 55.68% in UTair on December 31, 2010. It was also recorded that Russia's Federal Antimonopoly Service (FAS) approved the funds consolidation of 75.5% in airliner. Five managers from Surgutneftegas sit on the airline's seven-chair supervisory board.
UTair's passenger throughput for 2010 increased by 25% to 4.87 million people.