RAO UES posts 2002 dividends

RAO UES is planning to pay RUR0.0520 per common share in dividends in 2002, First Deputy CEO of RAO UES Leonid Melamed stated at today's conference devoted to the 10th anniversary of Russia's energy grid. According to him, in 1999-2001, RAO UES sales revenues jumped almost RUR100bn (about $3.14bn) from RUR308.9bn (about $9.70bn) to RUR400.1bn (about $12.56bn). Over this period, the holding's companies reduces their debts by two times.

As of October 1, 2002, the volume of short-term bank credits given to RAO UES, amounted to RUR25.462bn (about $799.21m). The weighted average interest rate on attracted resources was below 17.5 percent as of December 1, 2002. The share of commercial banks' resources among attracted resources is 68.2 percent.

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Author`s name: Editorial Team