April 8, 2013 / 11:42 AM / 5 years ago

Russian carmaker Sollers plans 30 pct dividend payout

MOSCOW, April 8 (Reuters) - Russian carmaker Sollers plans to hand back to its shareholders one third of last year’s earnings, its chief executive and main owner Vadim Shvetsov said on Monday.

The total payout could amount to 1.77 billion roubles ($56.00 million). Sollers, which specialises in producing foreign brands for the Russian market, said earlier on Monday its net profit rose by 25 percent last year to 5.9 billion roubles ($186.67 million) on revenues of 65.5 billion roubles.

Sollers owns manufacturing facilities to produce Russian UAZ off-road vehicles and South Korean SsangYong vehicles and has struck deals with Ford and Mazda Motor Corp to produce cars for the Russian market.

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