4 Mar 2010 17:40

Kamaz board schedules AGM for June 25, dividends not discussed

MOSCOW. March 4 (Interfax) - Directors at Kamaz have scheduled this year's AGM for June 25, the truck maker said in a statement.

Lists of candidates for election to the new board have been drawn up, but the company was unable to provide details. Kamaz told Interfax that the board did not discuss dividends.

A source has said the company does not intend to pay dividends for 2009. It has not paid dividends for the last three years, but is entitled to pay shareholders up to 20% of earnings.

Germany's Daimler and the European Bank for Reconstruction and Development (EBRD) said early February that they had increased their combined stake in Kamaz to 15%. Daimler owned 10% prior to that.

The state Russian Technologies (Rostekhnologii) corporation owns 37.8% and a consortium led by Troika Dialog controls 39.4% of Kamaz.