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19 MAY 2004  

The Ministry of Finance offers ALROSA to increase dividends payments

AKSnews.ru publishes that this year ALROSA intends to pay only 800 mln roubles (8% of its net profit) as dividends. Thus it ignores the recommendations of the Ministry of Property to enhance dividends payments.

Last November the Ministries of Property and Trade and Economic Development presented the document to the Government where they recommended to allocate all its net profit for the dividends payments. However, this project was directed for additional development and no decision has made about it yet.

800 mln roubles are only 100 mln more than the sum of last year dividends, however, the net profit of the company has increased considerably, by 150%. The Ministry of Finance intends that the company will enhance its dividends payments but ALROSA Supervisory Council has not decided upon its position in this question. The decision is expected to come on May 21, at the meeting of the Council.



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