TGK-9 directors recommend waiving 2009 dividends
MOSCOW. June 1 (Interfax) - The board of directors at Perm-based generating company OJSC TGK-9 , which is part of CJSC IES's Urals Generation division, has recommended that company shareholders vote to waive dividends for last year when they meet for their AGM June 30, a company statement says.
The board had already addressed dividends at an in-absentia meeting May 19. The company subsequently announced that the board had recommended dividends for 2009 at 0.043023714 kopecks per common share, or a total of 3.37 billion rubles of the 4.214 billion in net profits the company turned last year. But TGK-9 then retracted the statement, saying it had been a technical error, that most of the board members had voted against dividends and that the issue would be revisited shortly.
TGK-9 limited itself to interim dividends in 2008, paying out 750.651 million rubles for the first quarter (or 94.2% of 2008 net profits) at 0.00009593674 rubles per share.
The shareholder for the company AGM closed on May 21.
The boards of directors at the other IES generating companies (TGK-5, 6, and 7) have recommended that their respective shareholders also waive dividends for 2009.
TGK-9's charter capital is 23,511,883,689.71 rubles split into 7,837,294,563,235 shares with par value of 0.003 rubles plus a fraction of 663/801 per common share.
TGK-9 encompasses generating capacity in the Sverdlov region, Perm territory, and the Republic of Komi. Combined established generating capacity is 3.279 gWt for electricity and 16,866 gCal/hour for heat. IES holds roughly 75% of the genco's stock.