OREANDA-NEWS. September 11, 2009. PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS AND MICEX: NMTP) reported the commencement of dividend payment for 2008, reported the press-centre of NMTP.
 
According to NCSP’s AGM decision dated June 5, 2009 the payment of dividends started on September 1, 2009. As of September 7, 2009 the company has paid out 467.32 million rubles or 91.56% of the total amount of dividends announced.
 
The dividends have been paid in full to JP Morgan depositary bank (to be further transferred to holders of the Global depositary receipts on PJSC NCSP shares), to the Federal Agency for Federal Property Management of the Russian Federation, and to other legal entities and physical persons who have provided NCSP and/or the registrar with bank account details and/or postal address for dividend transfer. Payment of dividends to the shareholders who are employees of PJSC NCSP, totaling 4.35 million rubles, was synchronized with the payment of wages. Dividends to other shareholders (physical persons) will be paid by means of bank transfers, money orders, or through the company’s cash office. The Charter of PJSC NCSP stipulates that the payment of dividends must be completed by December 31, 2009.
 
The total amount of announced dividends, as approved by NCSP’s AGM decision from June 5, 2009 is 510.39 million rubles (0.0265 rubles per share), which makes 26% of the company’s unconsolidated net profit under Russian accounting standards. As compared to 2007 the dividends have been increased by 43%.