INTERFAX. Shareholders of Ekaterinburg-based Uraltransbank adopted a decision at Fridays AGM to pay out 2007 dividends of Rub 0.18 per common and Rub 0.15 per preferred share with Rub 1.00 par value each, the lenders press service told the news agency. Uraltransbank is to allocate nearly Rub 45 mln or 13.3% of net profit to 2007 dividend payouts. The plan is to wrap up the payout of dividends no later than July 21, 2008.
The lions share of 2007 net profit (78.7%) the bank will direct to the cumulative fund, 5% of net profit to the reserve fund, 2% to the fund for industrial and social development and 1% to the fund of board member fees. Based on 2006 performance, Uraltransbank paid out Rub 0.14 per common and Rub 0.15 per preferred shares, i.e. 2007 dividends on common stocks will be raised 28.6%, while preferred dividends will remain flat. The lending institutions 2007 net profit totaled Rub 339 mln, representing a 46.4% upsurge on 2006.
In accordance with the AGM agenda the shareholders approved the banks annual financial statement, elected a new audit committee and appointed BDO Unicon the companys auditor. Nine nominees were elected to the lending institutions board: pro-rector for economy and finance of the Urals State University of Railroads attached to the Russian Railway Ministry Andrey Efimov, Uraltransbanks executive board chairman Valery Zavodov, main coach of regional public organization Public & Sporting Center Uralochka Nikolay Karpol, Uraltransbanks deputy executive board chairman Andrey Kremnev, president of the Urals State Technical University Stanislav Naboichenko, chairman of the Sverdlovsk Regional Union of the Industrialists and Entrepreneurs Vladimir Semenov, Urals Airlines CEO Sergey Skuratov, chairman of the council for external trade consumer company Vneshkooptorg Ivan Popov and independent consultant Juеrgen Schramm. Andrey Efimov, as was a year ago, was appointed board chairman.
As Efimov told Interfax-Urals, the achievements the lending institution made in 2007 are a logical result of the banks sustainable growth in the past few years. «I think that the lending institutions shareholders and employees may be confident in the future. The potential weve amassed at the bank allows us to be confident in the future and have no doubts that our activities will be successful» — he noted.
At the AGM the shareholders also approved a new edition of the banks charter and related party transactions. Uraltransbanks charter capital equals Rub 249.86 mln and is divided in 249,865,394 common and 955 preferred shares with Rub 1.00 par value each. As of April 1, 2008 the banks major shareholders were Valery Zavodov (26%), the European Bank for Reconstruction and Development (25%), MFK-2002 (16.94%) and Financial Group INCO (11.78%). In Q108, Uraltransbank ranked 140th in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA.