Navoiazot to transfer 25 percent of net profit to pay dividends

Oil&Gas Materials 27 July 2011 19:25 (UTC +04:00)

Uzbekistan, Tashkent, July 27 / Trend D.Azizov /

Navoiazot, the largest chemical enterprise in Uzbekistan, will transfer 25 percent of net income to pay dividends for 2010, a message said.

According to the decision of shareholders, dividends for 2010 will amount to 390.47 soums for each ordinary share par value of 55.918 sums.

In 2010, the company's net profit of hit 1.777 billion soums compared to 1.15 billion in the same period in 2010.

Navoiazot transfered 67.2 percent of net income to pay dividends for 2009,
About 25 of the total net profits will be allocated to pay dividends upon the decision of the shareholders, 5 percent - formation of the reserve fund - five percent, one percent - fund of modernization of the enterprise, one percent - labor protection fund, two percent - to reward members of the Supervisory Board and the Audit Commission and for the capitalization - 66 percent.

The authorized fund was formed to the amount of 42.145 billion soums. It consists of 753.696 ordinary shares of par value 55,918 soums each. The state owns 100 percent in the structure of the statutory fund.

Navoiazot's assets grew from 436.04 billion soums in 2009 to 498.91 billion soums in 2010. The growth rate made up 14.42%.

Long term assets grew from 67.26 billion soums in 2009 to 81.46 billion soums in 2010. Current assets made up 417.45 billion soums in 2010 against 368.78 billion soums in 2009.

Its own capital decreased from 128.19 billion soums in 2009 to 105.59 billion soums in 2010. The charter capital hit 42.145 billion soums in 2010.

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.