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.