VSMPO-AVISMA to pay dividends for H1 2016 - RUSSIAN AVIATION

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VSMPO-AVISMA to pay dividends for H1 2016

Russian Aviaton » Monday August 22, 2016 18:54 MSK

The Board of Directors of Public stock company VSMPO-AVISMA Corporation recommended that the shareholders decide to pay the dividends for H1 2016 in the amount of RUB 816 per share of common stock at their extraordinary meeting on September 21, 2016, VSMPO-AVISMA informed.

The meeting will take place by absentee voting. The dividend record date is October 3, 2016.

It should be recalled that VSMPO-AVISMA Corporation paid more than RUB 5.2 billion in 2015 dividends.

Public stock company VSMPO-AVISMA Corporation (tax number: 6607000556) is the largest worldwide manufacturer of titanium products (ingots and all kinds of titanium alloy-based semi-finished products). Also, the corporation produces aluminum alloy-based pressed articles, semi-finished products based on alloy steel and heat resistant nickel-based alloys. The company's two main production facilities are located in cities Verkhnyaya Salda and Berezniki. The company is a structural unit of state-run corporation Rostec.

IFRS net profit of Public stock company VSMPO-AVISMA Corporation for 2015 grew by 80.09% to $277.031 million from $153.828 million in 2014. Revenue decreased by 20.66% to $1.294 billion from $1.631 billion, profit from operations increased by 3.2% to $461.967 million from $447.644 million, pre-tax profit by 55.88% to $313.325 million from $201.006 million.

According to AK&M Information Agency's DataCapital information retrieval system, RAS net profit of Public stock company VSMPO-AVISMA Corporation for Q1 2016 grew 2.37 times to RUB 7.676 billion from RUB 3.236 billion the year before. Revenue increased by 16.75% to RUB 18.563 billion from RUB 15.9 billion, sales profit by 35.67% to RUB 7.728 billion from RUB 5.696 billion, pre-tax profit 2.31 times to RUB 9.205 billion from RUB 3.992 billion.

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