VILNIUS, Lithuania, April 30, 2013 /PRNewswire/ --
At today's (30 April) Annual General Meeting (AGM) shareholders of AB INTER RAO Lietuva approved the company's 2012 financial statements and agreed that the 2012 financial year dividend would be LTL 27 million (EUR 7.8 million) - LTL 1.35 (EUR 0.39) per share. Shareholders have also decided to transfer LTL 9 million (EUR 2.6 million) of the company's profits from 2012 to the next financial year.
During the meeting, shareholders have also elected two new members of the Supervisory Council, namely Dmitrijus Dutovas, a banker, representing asset management company East Capital, and Nerijus Dagilis, an entrepreneur. Following the approval of the AGM, INTER RAO Lietuva financial statements for 2013 will be audited by UAB Ernst & Young Baltic, which will receive the established remuneration totalling LTL 76,000 (EUR 22,011) (exclusive of VAT) for the provided services.
"By becoming a public company, we declared our objective to be a dividend-paying company, and now we deliver on our promise and would like to confirm that this is our long-term obligation to the shareholders. Only four months have passed since the listing of our company's shares on the Warsaw Stock Exchange. Today, the price of our shares is higher than when it was approved during the public offering by nearly 20% - this shows the confidence of investors and our new shareholders, and we will seek to justify it", says Giedrius Balčiūnas, CEO of INTER RAO Lietuva.
Dividend shall be paid to shareholders of AB INTER RAO Lietuva who will be shareholders of the company on 15 May 2013 (the record day) and 28 May 2013 will be the dividend payment date.
In 2012 INTER RAO Lietuva Group consolidated revenues reached LTL 897 million compared to LTL 919 million in 2011. The Group's EBITDA increased by 3.4% to LTL 81.5 million while net profit totalled LTL 58.1 million versus LTL 61.2 million a year earlier.
The initial listing of the shares of INTER RAO Lietuva on the Warsaw Stock Exchange took place on 18 December 2012. This is the first energy sector company in the Baltic States and the third Lithuanian company to have its shares listed on the Warsaw Stock Exchange.
INTER RAO Lietuva is one of the largest independent electricity suppliers in Lithuania. The company supplies electricity to Lithuania's major consumers, including the oil refinery Orlen Lietuva. The INTER RAO Lietuva Group also trades on Nord Pool Spot, the Nordic electricity exchange, which is one of the largest in Europe.
SOURCE INTER RAO Lietuva