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Gaz OAO recommends FY 2013 dividend payment-Interfax

Monday, 2 Jun 2014 06:08am EDT 

Gaz OAO:Directors at the GAZ automobile group are recommending that shareholders accept a dividend of 7.85 Russian rubles a share on preferred shares only for 2013, the company said in materials-Interfax.This decision was made at a board of directors meeting on May 30.The board also recommended that the remaining portion of net profit remain at the company's disposal.GAZ's charter capital consists of 19,973,760 ordinary shares and 1,453,500 preferred shares with par value of 1 ruble, the company could therefore pay 11,409,975 rubles for preferred shares.The final date for determining the individuals who have the right to receive dividends is July 11.The GAZ group saw net profit to International Financial Reporting Standards (IFRS) fall 54.6 percent in 2013 compared with 2012 to 4 billion rubles.Net profit to Russian Accounting Standards (RAS) declined by around 42 percent to 391.7 million rubles.GAZ's annual shareholders meeting is planned to take place on June 30. 

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1 Dec 2015