The Board of Directors of Vyborg Shipyard recommended its shareholders not to pay dividends for 2007. According to the company’s materials, annual meeting is to be held on June 25, 2008. The shareholders are to approve the company’s annual financial statement, the report of the Audit Committee and auditor’s conclusion as well as to approve the membership of BOD.
Vyborg Shipyard JSC is one of the largest shipbuilding companies of the North-Western Region of Russia with over 50-years’ experience in shipbuilding. Since the Shipyard was founded (1948) there have been built more than 200 different vessels with deadweight up to 12,000 tons, total displacement over 1,300,000 tons.