OREANDA-NEWS.February 13, 2014. Teploobmennik (Bloomberg: TOBM:RU) announced that it was going to hold an AGM on May 15, 2014.

The record date to participate is March 31, 2014. Due to amendments to Russian corporate law, which went into effect this year, the record date to be entitled to receive dividends is to be different from the one which was set to be entitled to take part in the AGM. We estimate it to be in the period of May 5 to June 4, 2014.

Teploobmennik announced that it was going to hold an AGM at May 15, 2014. The record date to participate is March 31, 2014. Due to amendments to Russian corporate law, which went into effect this year, the record date to be entitled to receive dividends is to be different from the one which was set to be entitled to take part in the AGM. We estimate it to be in the period from May 5 to June 4, 2014.

Although Teploobmennik is a stable dividend payer, the dividend payout ratio was marginal (0.5%) in 2010-2012. Nevertheless, we have not ruled out that the picture may change for the better, given that in December of 2013 Viktor Tyatinkin – the CEO of the company – presumably increased his stake to 56%.