19 June 2004 00:45
Alrosa to pay dividends of 6,000 rubles per share for 2003
MOSCOW. June 19 (Interfax) - The shareholders of Alrosa, the Russian diamond producing monopoly, made a decision at a
meeting on Saturday to pay dividends for 2003 in the amount of 6,000 rubles (slightly over $200) per share or 1.2
billion rubles on the whole.
An Alrosa source told Interfax that this decision had earlier been recommended by the company's supervisory
board.
The company paid a total of 700 million in dividends for 2002, and so they rose 70% in 2003. Alrosa posted net
profits of 9.663 billion rubles last year.
The shareholders also approved a yearly accounting record, including a report on profits and losses, and also
confirmed the composition of the supervisory board, for which 27 candidates were nominated and 15 were finally elected.
The board will include six representatives from the federal authorities, six representatives from the Sakha-Yakutia
authorities, and three representatives of the individual shareholders. The chairman of the supervisory board, his first
deputy, and deputy will be elected at its next meeting.
Alrosa mines about a quarter of the world's diamonds. In 2004, the company plans to mine almost $1.856 billion
and sell $2.047 billion worth of diamonds. It also expects to sell $137.1 million worth of cut diamonds in 2004.
Alrosa's key shareholders are the former Russian Property Management Ministry (37%), the Property Management
Ministry of Yakutia (32%), and its employees (23%). Eight districts of Yakutia jointly own 8% of the company's
stock. [RU EUROPE ASIA EEU EMRG DIA] va tj
[Interfax] |
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