26 May 2004 03:47
Borsky Glass Works to pay 6.94 rubles per share
NIZHNY NOVGOROD. May 26 (Interfax) - Shareholders of Borsky Glass Works voted at their AGM Wednesday to pay 2003
dividends at 6.94 rubles per common share, an Interfax correspondent reported from the meeting.
The company posted net profit of 46.58 million rubles in 2003. The remaining share of profits will be used to
replenish the reserve fund.
Borsky Glass Works waived 2002 dividends because of net losses of 127.26 million rubles.
Borsky Glass Works has charter capital of 418.96 million rubles,
split into 4.41 million common shares with par value of 95 rubles.
Glaverbel owns 44.499% of the company and the EBRD and IFC each own
Shareholders approved the 2003 annual report showing sales revenue up 33% to 4.03 billion rubles. Production cost
increased 20% to 2.44 billion rubles, gross profit jumped 62% to 1.59 billion rubles, and sales profit increased 170% to
665.44 million rubles. Pretax profit was 177.64 million rubles, compared with pretax losses of 114.05 million rubles in
2002.
A 13-seat board was elected, including 11 representatives from Glaverbel of Belgium and one representative each from
the European Bank for Reconstruction and Development and the International Finance Corporation.
PricewaterhouseCoopers Audit was selected to audit the company in 2004.
19.25%. [RU ASIA EUROPE EEU EMRG DIV CORA BLD RES BE WEU BNK] me
[Interfax] |
RUSSIA IN FACTS
