Source Pravda.Ru

AvtoVAZ Decides on Dividend Payments

The Board of Directors of the Russian leading car maker AvtoVAZ has recommended the annual general meeting of shareholders to pay dividends for 2002, i.e. 17 rubles (about $0.55) per preferred share and 5 rubles (about $0.16) per common share. According to the AvtoVAZ press service, the dividend payments will total 83.8m rubles (about $2.7m) for preferred shares (12 percent of the company's net profit for 2002) and 135.9m rubles (about $4.37m) for common shares. The total volume of profit to be distributed is 700.4m rubles (about $22.52m).

The share capital of AvtoVAZ is about 16.063bn rubles (about $517m). It produced 702,966 cars in 2002, 54,347 cars fewer than in 2001. This year, AvtoVAZ is going to make about 690,000 cars.

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