The shareholders of Baltiysky Zavod OJSC decided not to pay out dividends for 2006 during the annual meeting. The profit will be used to development, the company said to AK&M.
As on Dec 31, 2006 plant's authorized capital stock made 264.44 mil rubs, divided into 1.1 mil common shares at 240.4 rub par value.
For 2005 the Baltiysky Zavod shipyard didn't pay out the dividends also, and ditected the net profit to modernization.
Baltiysky Zavod is one of the leading entities in the shipbuilding sector in Russia. It is included into Joint Industrial Corp. as a producer of icebreakers, large capacity ships and battle ships. The building of the offshore atomic power plants is one of the most perspective targets. The portfolio of the shipyard is worth $600mln till 2009; military equipment contracts covering $30mln.
The 2006-net profit (RAS) was doubled to 548.77mln rub.; revenues - 13% to 1.673bn rub. from 1.48bn rub.; pretax profit - to 885.596mln rub. from 464.27mln rub. (1.9 fold growth). The loses came to 186.233mln rub. against 59.69mln rub. in profit last year.
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