Baltika BoD Recommends Shareholder Interim Dividend Payment for 1H
OREANDA-NEWS. July 13, 2010. the Baltika board of directors decided to recommend the payment of an interim dividend for the first half of
Under complex conditions stemming from reduced production volume in the industry and the tripling of the excise tax rate on beer, Baltika has continued its intensive work on reducing costs and increasing efficiency, and will not be in need of additional significant investments through the end of 2010.
The board of directors, in analysing the cash flow trend over the first quarter of 2010 and taking the preliminary indicators for the second half of the year into account, believes that under prevailing market conditions it is advantageous to pay the annual dividend in several stages.
This step will allow Baltika both to ensure a balanced cash flow and to pay all its shareholders a part of the profits from the first half of the year. In particular, shareholders conducting other business operations will have the opportunity to manage their cash flows more effectively.
Baltika Breweries is
Over 20 years Baltika has devoted special attention to issues of quality: all the breweries have modern equipment, are run by advanced quality management systems, and use only the finest ingredients in the production process.
Baltika is part of the Carlsberg Group.
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