UMPO may cut dividends
The Board of Directors of JSC "Ufa Engine Industrial Association" (UMPO) recommended the annual meeting of its shareholders to adopt a resolution on paying dividends for 2013 in the amount of 1.28 rubles per ordinary share.
According to the results of 2012 UMPO paid dividends of 1.72 rubles per share. Consequently, the payments can be reduced by 25.6 percent, the company informs.
The authorized capital of UMPO totaling 467 288.6 thousand rubles is divided into ordinary shares at par value of 1 ruble each. Thus, UMPO may send 598.13 million rubles for payment of dividends.
JSC "Ufa Engine Industrial Association" is the Russian largest manufacturer of aircraft engines. It is engaged in design, manufacture, service and repair of turbojet engines and pumping units, production and repairs of parts for helicopters. It is included in the United Engine Corporation.