Uzbekistan, Tashkent, July 5 / Trend D. Azizov /
OJSC Navoiazot is the largest chemical enterprise in Uzbekistan. It will transfer 67.2 percent of net income to pay dividends for 2009, a message said.
Net profit of "Navoiazot" following last year reduced by 4,6 times compared to the same period in 2008 - up to 1,15 billion soums.
About 773.292 million soums (67.2 percent) of the total net profits will be allocated to pay dividends upon the decision of the shareholders, 308.2 million soums (26.8 percent) -development of production with a market capitalization in the authorized fund, 57.5 million sum (five percent) - the reserve fund, 11,5 million sum (one percent) - establishment of a modernization fund.
Dividends for 2009 will amount to 2.05 percent (1,025 soum) per annum for each ordinary share of par value 50,000 soum compared to 1.27 percent per annum a year earlier.
The authorized fund was formed to the amount of 37.689 billion soums. It consists of 753.696 ordinary shares of par value 50,000 soums each. The state owns 100 percent in the structure of the statutory fund, 49 percent will be sold to a foreign investor.
OJSC Navoiazot (former Navoi Chemical Plant) was put into operation in 1964. It specializes in the production of nitrogen fertilizers, nitronic fibers, as well as integrated production of organic synthesis.
According to the company, its assets in 2009 increased by 18.6 percent - up to 436.04 billion soums. Current assets increased by 19.4 percent - up to 367.5 billion soums, the obligations - by 19.9 percent - up to 295.9 billion soums.
The Uzbek State Property Committee announced a tender to sell 49 percent of OJSC "Navoiazot" with start value of $ 60 million in April 2007. The tender was repeatedly renewed and at the end of 2008 was declared invalid.
On July 5, the official exchange rate is 1595,00 soums per $1.
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