24 May 2004 07:41
ARSENAL TO INCREASE DIVIDENDS 400% IN 2003
The company paid dividends of 2 rubles per share in 2002.
Total dividend payments for 2003 will amount to over 10.5 million
ST. PETERSBURG. May 24 (Interfax) - Shareholders in AO Arsenal Engineering Plant confirmed dividends for 2003 of 10
rubles per common share with a par value of 1 ruble, a source in the company told Interfax.
rubles. The rest of net profit, which amounted to 34.384 million rubles in 2003 - up 23% year-on-year - will be spent
on company development.
Indicator 2003 2002
Sales revenue 1,280,664 1,431,244
Cost of sales 932,455 1,138,868
Sales profit 171,275 113,692
Pretax profit 58,517 33,161
Current profit tax 17,694 -
Net profit 34,384 27,943
Accounts payable at the company increased from 503.423 million
The source said that shareholders elected a new seven-member board of directors and confirmed Intersystemaudit (St.
Petersburg) as the company's auditor for 2004. Main financial results in 2003 (thousand rubles)
rubles on January 1, 2003 to 549.175 million rubles on January 1, 2004, with accounts receivable up from 289.316
million rubles to 931.802 million rubles.
AO Arsenal Engineering Plant is one of the largest producers of space technology in Russia. The company has charter
capital of 1,501,162 rubles split into 1-ruble common shares.
The company's largest shareholders are private individuals, AO Arsenal Mechanical Plant (14.48%), and the former
Russian Property Ministry (7.98%). The state also owns the golden share in the plant.
[Interfax] |
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