OREANDA-NEWS. The Board of the Bank of Lithuania has approved the 2015 Financial Statements and the allocation of the profit of UAB Lithuanian Mint. It has been decided to reduce the company’s authorised capital as well.

 ‘Particularly low interest rates enable borrowing at favourable conditions and returning the surplus on the share capital to the sole shareholder — the state, thereby enhancing the potential for growth in equity return,’ says Mindaugas Vai?iulis, Chairman of the Board of UAB Lithuanian Mint.

The total profit for the reporting period is EUR 1,346,642, net profit — EUR 633,797. UAB Lithuanian Mint has allocated EUR 700,000 in dividends for the shareholder — the state.

In dividends and by reducing its share capital, UAB Lithuanian Mint will pay to the state a total of EUR 1,262,400 this year.

The authorised capital of the UAB Lithuanian Mint is to be reduced from EUR 5,502,780 to EUR 4,940,000. Its authorised capital is to be reduced by cutting the nominal value of one share of the company from EUR 28.96 to EUR 26.  

A strategic direction of UAB Lithuanian Mint for the next few years is greater diversification of activities by minting not only coins but other products as well, such as medals, replicas, etc.