10 Jun 2010 10:09

Novorossiisk port boosts dividends 79%

MOSCOW. June 10 (Interfax) - Shareholders in Russia's Novorossiisk Commercial Seaport voted at their AGM to accept a dividend of 0.125 rubles per share for 2009, the company said in a statement.

This is 78.8% more than the 0.0265 rubles the port paid on shares, which have par value of 1 kopeck each, for 2008.

Net profit for the year was 5.39 billion rubles, of which 2.4 billion rubles will be spent on dividends and 2.98 billion rubles will be reinvested.

The port has 19,259,815,400 issued ordinary shares.

The state owns 20%, Russian Railways (RZD) is trustee of 16% and board chairman Alexander Ponomarenko and State Duma deputy Alexander Skorobogatko are beneficiaries of the controlling stake. The port held an IPO for 19.38% of its shares on the LSE and in Russia in 2007.