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Russian truckmaker Kamaz to pay first dividend in 20 yrs
May 23, 2013 / 1:41 PM / 4 years ago

Russian truckmaker Kamaz to pay first dividend in 20 yrs

MOSCOW, May 23 (Reuters) - Russian truckmaker Kamaz said on Thursday it would return around 500 million roubles ($16 million) to shareholders in its first dividend payout in 20 years.

Kamaz, in which German autos group Daimler has an 11 percent stake, said in a statement it would pay 10 percent of last year’s net profit in dividends.

The company earlier reported a tripling of earnings for 2012 to 5.8 billion roubles. Under Russian Accounting Standards that are used to calculate dividends, the net profit totalled 4.9 billion roubles. ($1 = 31.2910 Russian roubles) (Reporting by Gleb Stolyarov; Writing by Maria Kiselyova; Editing by Douglas Busvine)

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