The Board of Directors of TGC-1 recommended its shareholders to pay the dividends for year 2013.

15.04.2014

At the general meeting the Board of Directors of TGC-1 considered the report on the results of TGC-1 activity in 2013 and recommended the annual general meeting of shareholders to approve the financial statements for 2013.

Revenue amounted to 67,472 mln rubles (increased by 12% *), the cost of production of the main products – 61,057 mln rubles (up 10%). Operation profit of TGC-1 – 6,415 mln rubles (increased by 31%), net profit is recorded at 3,218 mln rubles (reduced by 4%). Effect from the programme on improvement of efficiency of the operational activity of TGC-1 in 2013 amounted to 1,822 mln rubles. Asset value as of 31 December 2013 is 121,372 .24 mln rubles.

The Board of Directors has decided to recommend the shareholders to direct 2,414 mln rubles of net profit earned in 2013 into the accumulation fund, 160.9 mln rubles - to the reserve fund. 20% of the net profit, which amounts to 643.63 million rubles, is proposed to direct towards payment of dividends on ordinary shares of  TGC-1 at the end of 2013 (0.000166988 rubles per ordinary share).

During the meeting reports on the activities of subsidiaries of TGC-1 were heard, reports on the implementation of the business plan of St. Petersburg Heating Grid and JSC Murmanskaya CHPP for 2013 were approved.

* Here and below figures are presented in comparison with 2012