"Salavatsteklo" may direct all profits of 2014 and part of the previous years’ profit to paying dividends

UFA, 6 May 2015. /Bashinform News Agency, Elvira Latypova/. "Salavatsteklo" shareholders at the annual meeting on June 24 will decide on the allocation of profit, including the amount of dividends, follows from the minutes of the Board meeting.

The Board of Directors recommends shareholders direct all profits of 2014 for paying dividends. Dividends per share par value of 10 rubles may be accrued at a rate of 10 rubles, 20 rubles, 40 rubles, 60 rubles, 100 rubles or 200 rubles at the discretion of shareholders. In case of insufficient profits of 2014 the undistributed profit of past years may be directed on dividends, but within the established limits.

Earlier it was reported that by results of 2014 "Salavatsteklo" achieved a net profit under RAS in the amount of 113.8 million rubles, which was almost seven times less than the result of 2013. Decrease in profit was due to a 10 percent increase in cost per ruble of products shipped because of lower prices for flat glass while increasing costs. According to the financial statements at the end of 2014, the undistributed profit of past years amounted to 5.5 billion rubles.

JSC "Salavatsteklo" produces and sells glass and glassware, construction materials, consumer goods. In terms of production it is one of the leading enterprises in the Russian glass industry. The authorized capital is 49,768,000 rubles. Nearly 75 percent are owned by the Ufa LLC "Company RIA".