Ukraine's Ovostar to pay interim dividends of 3.9 mln euros

MOSCOW. Dec 26 (Interfax) - Ovostar Union, a leading Ukrainian producer of eggs and egg products, will pay 3.6 million euros in interim dividends, Ukrainian media said, quoting a company report filed with the Warsaw Stock Exchange.

The decision was approved at a meeting of the board of directors on December 22.

The dividend per share is 0.65 euros.

The dividend record date is January 13 and dividends will be paid by January 27.

Ovostar shareholders decided at a meeting in August not to pay dividends for 2021, but instead use last year's net profit of $1.65 million, which had fallen 38% compared with 2020, to replenish working capital.

Ovostar Union had net profit of $2.39 million in January-September 2022, down 16.1% year-on-year. Revenue fell 4.3%, to $90.29 million.

As of September 30, 2022, Ovostar Union shares were owned 67.93% by Prime One Capital Limited controlled by Ovostar CEO Boris Belikov and Vitaly Veresenko, chairman of the board of directors; 11.93% by Generali Otwarty Fundusz Emerytalny, compared with 10.93% at the start of the year; 9.09% by Fairfax Financial Holdings Limited, compared with 10.39%; and 5.02% by Aviva Otwarty Fundusz Emerytalny.

Ovostar Union is a vertically integrated publicly traded holding. The group's holding company, Ovostar Union N.V., held an initial public offering of 25% of shares on the Warsaw Stock Exchange in mid-June 2011, raising $33.2 million.