29 May 2004 04:06
Russia`s AvtoVAZ automaker to nearly treble total dividends
TOGLIATTI, Russia. May 29 (Interfax) - The shareholders of Russian automaker AvtoVAZ, at an annual meeting on
Saturday, approved the payment of dividends for 2003 totaling 187% more than those for 2002, Interfax was told at the
company.
The dividends will be 6 rubles per ordinary share and 95 rubles
per preferred share, compared with 2002's 5 rubles and 17 rubles
Altogether 631.55 million rubles is to be spent on the dividends, compared with 219.8 million rubles spent in 2002.
Ten percent of the 2003 net profit of 4.655 billion rubles, calculated on the basis of Russian accounting standards,
will go into preferred shares.
The net profit of 4.655 billion rubles is recorded by accounts
approved by the meeting. The 2002 accounts put net profits at 545
respectively.
million rubles.
Sales revenue totaled 107.381 billion rubles compared with 92.270 billion rubles for the year before.
AvtoVAZ has an authorized capital of 16,062,482,000 rubles, which is divided into 27,194,624 ordinary and 4,930,340
preferred shares with a par value of 500 rubles.
The All-Russia Automobile Alliance (AVVA) owns 32.3% of the authorized capital, about 20% belonging to the Central
Department of the Automobile Finance Corporation, 2.6% to the IFK company, (AVVA, the Central Department of the
Automobile Finance Corporation, and IFK are AvtoVAZ subsidiaries), 18% to individuals, about 8% to Vneshtorgbank
(Foreign Trade Bank), about 2% to the Aton group, and about 1.5% to the Russian state. [RU EUROPE EEU EMRG AUT RES] as
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