Novoship to pay dividends for 2006 in the amount of 451 mil rub

Novoship's BOD recommended the shareholders to pay dividends for 2006 in the amount of 451 mil rub, that is 1.8 times more then in 2005, said in the company's announcement.

The dividends will be paid at 0.9 rub per one common and preferred share.

It is planed to direct 133.6 mil rub of the undistributed net profit and for 2006 and 317.4 of accumulated surplus of prior accounting periods.

For 2005 Novoship paid dividends at 0.05 rub per one common and preferred share.

Novoship is ranked as second among other shippings in Russia. The fleet is appraised to worth $2.4bn. The 2005-net profit reached 1.252bn rub.

The share capital is worth 501.12mln rub. split in 375840500 common and 125280000 preferred stocks of 1 rub. par. The major holders involve Russian property committee (60.73%), RFFI (6.4%), Novoshipinvest (8.49%) and Intrigue Shipping (14.41%).