Sovkomflot’s stockholders approve dividend payment of $920.577m
Stockholders of "Modern commercial fleet" (Sovkomflot) approved the dividend payment at amount of $920.577m rubles at the annual general meeting on June 29th. It makes up 82.5% of the Company's net income under Russian Accounting Standards (RAS), the Sovkomflot press service said.
The stockholders elected to the Board of Directors nine members: Vice-Minister of Energy of the Russian Federation, Sergey Kudryashov, a member of the Board of Directors of UBS Bank JSC, Marlene Manas, Chairman of the Board of Trustees of the Lloyd's Register Group (independent director), David Moorhouse, Head of Presidential Administration of Russian Federation Sergey Naryshkin, the Deputy Minister of Transport of the Russian Federation, Viktor Olersky, Chairman of the Board of the U F G Asset Management (independent director), Charles Ryan, president, chairman of Morgan Stanley Bank LLC, (independent director), Evgene Titov, president of Transneft, Nikolay Tokarev, CEO of Sovcomflot, Sergey Frank.
Sovcomflot Group is one of the largest infrastructure companies in Russia, Its fleet comprises 146 ships of total deadweight of more than 10 million tons. The company shipbuilding program includes 10 ships of total 800,000 DWT. The average age of the Sovcomflot’s tanker fleet is about 7 years (world average - 12 years). The Group ranks first in the world in the segment of commodities carriers, the second - in Aframax vessels. The company has the largest in the world Ice Class vessels fleet. It is also N1 operator of Arctic shuttle tankers and ships - gas tankers with ice class.
Net income of Sovcomflot for 2009 (RAS) declined by 5% y-o-y, to 1.1 billion rubles.