The Bench of Severnaya Verf shipyard (St. Petersburg) recommended the shareholders not to pay dividends for 2006, said in the company's announcement.
The BOD appointed the date of annual shareholders meeting for June 22. Shareholders list was completed on May 7.
During the meeting the shareholders will be to approve annual report, year-end financial statements, choose an auditor, BOD members and check-up committee, and also set the amount, terms and forms of dividend payments for 2006. The agenda also includes bringing changes and additions to Company's regulations.
The Company is one of the leading shipbuilding plants in Russia. The major holders are Joint Industrial Corp. (72.23%), and RFFI (20.96%) It provides the building and repair services.
Company's net profit under IFRS according to the preliminary information rose by 54.6% to $15 mil, EBITDA margin - to 16.3%
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