The Board of Directors of the corporation «VSMPO-AVISMA» — the world's largest titanium production companies — the manager recommended the composition of the company to approve the amount of dividends for the previous year of $ 26.5 Russian rubles per share. If the shareholders' meeting, which will take place at the end of next month, the sum of payments referred to above is adopted, the owners of the assets VSMPO get 5 times more profit than last year (according to the results of the enterprise in the 2010th), when the dividend of 5.1 rub. ruble per share.
Total titanium giant was issued 11529538 shares, therefore, the total amount of payments on dividends in the current year (in the case of a positive decision of the shareholders) will be more than 305 700 000 rubles.
Recall that according to the results of the «VSMPO-AVISMA» in 2011 net profit of Titanium Corporation (under the rules RAS) exceeded the amount of 3.05 billion rubles. Whereas the same figure in 2010th equaled 646.3 million (4.7 times less).
Salda Metallurgical Production Association (VSMPO) is working on non-ferrous metals market with 30 years of XX century. Today, power companies can produce about 30 thousand tons of titanium per year, more than 70% of which is exported. The main owner of the company's assets — the state corporation «Russian Technologies», which owns 2/3 of the securities titanium monopoly.