OREANDA-NEWS. For the first time since 1993, the Board of Directors of OJSC KAMAZ recommended that the Annual General Shareholders’ Meeting of the company should take a decision to pay dividends in the sum of 10 per cent from the net profit received according to the results of 2012. The final decision on this issue will be made at the Annual General Shareholders’ Meeting of OJSC KAMAZ which will be held on June 28, 2013.

According to Sergey Kogogin, General Director of KAMAZ, positive results of the company’s activity enable not only to direct money towards investments, but also to pay dividends to shareholders. “The only matter under discussion was an amount of payments. And 10% is the sum which the enterprise can pay, in principle, without damaging our investment budget. I’m glad that, even under conditions of a rather fluctuating market, the company can discuss this issue and pay dividends for the first time in KAMAZ’s history. If all our shareholders vote for dividend payment on the 28th of June, they will be paid bonuses within the shortest period of time”, noted Mr. Kogogin.

According to KAMAZ’s CFO Elena Milinova, a world practice shows that the share of dividends paid by stock companies varies from 10 to 20 per cent of the company’s net profit for the past year. It depends on how intensively the company pursues an investment policy. The total sum of money earmarked for dividend payment will exceed RUB 487 m. The charter capital of KAMAZ is divided into 707,229,559 shares, therefore, the amount of dividend per share will make 69 kopecks. The means will be paid to the shareholders till August 27, 2013. Individuals will receive dividends by post at addresses stated in the shareholders’ personal accounts in the register of OJSC KAMAZ’s shareholders, and legal entities will receive them by bank transfer.

Now, all shareholders need to renew information in the register of OJSC KAMAZ’s shareholders, as many of them have no data about postal addresses and details. So, dividends will be transferred only to those shareholders whose data in the register of KAMAZ shareholders are correct.

It should be noted that a register of persons who have got the right to receive dividends was made on May 17, 2013, when a list of participants of KAMAZ’s annual general shareholders meeting was drawn up. Those who received KAMAZ shares after this date are deprived of the right to receive dividends of 2012. If a shareholder doesn’t receive dividends till the 27th of August because of incorrect passport or address data, he or she can address a request to OJSC KAMAZ to receive dividends within a three-year period (till August 27, 2016).