The shareholders of Russian meat processor Cherkizovo Group have approved paying no dividends for 2010 at their annual general meeting (AGM), the company said in a statement Tuesday.
The group paid no dividends for 2009.
In 2010, the company’s net profit increased 21% on the year to U.S. $144.4 million, as calculated under U. S. GAAP, it said earlier.
The company’s present charter capital amounts to 430,693 rubles and is split into 43,069,355 shares with a nominal value of 0.01 rubles each.
Cherkizovo Group’s key shareholders are MB Capital Partners, holding a 49.55% stake, and JP Morgan Chase Bank, holding a 29.50% stake.
Cherkizovo Group is one of the largest meat processors in Russia.
Petelinka, one of Cherkizovo Group’s flagship brands and the best-selling chicken product, has entered into partnership with the iconic GUM Ice Rink, which opens annually on Red Square. This year, visitors will have an opportunity to take a break in the cozy Petelinka cottage and take photos next to a Christmas tree standing on chicken legs.
Cherkizovo Group employees have held a volunteer event supported by the Ray Foundation for Helping Homeless Animals. They brought food, medicines and other useful supplies to two Moscow shelters and helped with dog walking.
Cherkizovo Group’s chicken and turkey products have once again been awarded the annual Product of the Year title, with flagship brands Petelinka and Pava-Pava winning two categories of the award.
Cherkizovo Group, Russia's largest meat producer, is taking part in Our Brand, an international food festival in Ufa. The Company showcased its products during a tasting session at its stand.