Shareholders of SUAL (Siberian-Ural Aluminum company) made a decision to pay no dividends for 2001, despite the net profit of 349.3m rubles (about $11.13m), the company's press service reported. The source explained that SUAL was making significant investments last year. The total volume of investments reached 2.36bn rubles (about $75m), or almost 62 percent more than in 2000.
According to the annual report, approved by shareholders, the company's sales proceeds increased more than 830m rubles ($26.44m), or 4 percent, last year compared to 2000 and reached 20.63bn rubles ($657m).
In addition, SUAL shareholders approved the amended articles of association, regulations on the general shareholder meeting, the board of directors and the revision commission. Yunikon/MS Consulting group was appointed the auditor of SUAL.
Russian President Vladimir Putin got the West worried again by signing Decree No. 915. The news did not produce any public effect in Russia