Ukrproduct Group will not pay out dividends for 2012
2013-07-01 15:42:01
According to the official information released after General Meeting of Shareholders of Ukrproduct, company’s owners and management decided not to pay out dividends for 2012. The meeting was held on June 26, 2013. Baker Tilly was appointed as the auditor of the group. Net profit of the group amounted to GBP 0.852 M, which was 2.1 times higher compared to 2011 results (GBP 0.4 M). Net revenue of the company increased by 19.2% to GBP 60.2 M. Company paid out GBP 0.5 per share in 2011, compared to GBP 0.37 per share in 2010.
UkrAgroConsult comment: Majority of Ukrainian Agro Holdings that are publicly traded of foreign stock exchanges have decided not to pay dividends in 2012 due to scarce external financing sources in 2013. Ukrproduct is most likely to finance its working capital with the funds that would be otherwise used for dividend payouts.
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