OREANDA-NEWS. April 30, 2010. The state-run Klaipedos nafta (Lithuania) that ended up last year with LTL37.603m net audited income, will set aside a half of that amount for dividend payout, 5 cents a stock.

The Company’s stockholders at their meeting distributed LTL40.824 million of profit. The stockholders allocated LTL19.294 million for assets reconstruction and capital investment, LTL3.33 million - to the legal reserve, LTL1.2 million - for the payout of bonuses and awards to the staff LTL300,000 - for assistance and payments under the Labor Contract.

This year the Company will pay far greater dividends than ever before. Having earned in 2008 LTL28.598 million of net audited income, Klaipedos nafta has paid its stockholders dividends at amount of LTL 13.532m, or 4 cents a stock.

Klaipedos nafta was founded in 1994. Lithuania Govt. holds a 70.6% stake in the Company. In 2009 the KN Terminal handled 7.659 million tons of oil or 6.7% down from 2008’s figures.