28 May 2004 02:46
Morion slashes dividend payments
PERM. May 28 (Interfax) - Shareholders of telecommunications network equipment maker Morion at their AGM accepted
dividends of 0.02 rubles per common share, par value 1 ruble each, for 2003, the company told Interfax.
This was only half of the 0.04 rubles the company paid for 2002. Morion will also reinvest some of last year's
net profits, which fell 8% from 2002 to 16 million rubles.
The shareholders elected a board of nine directors, five of them representing members of the Perm Financial and
Industrial Group, which owns 30% of Morion's shares, and two of Morion itself.
Morion charter capital is 16.64 million rubles. [RU ASIA EUROPE EEU EMRG TEL RES CORA DIV] pr
[Interfax] |
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