NITR AGM Votes To Pay USD 115 mln In Dividends

At their AGM today, Nyzhnyodniprovsky Pipe (NITR) shareholders voted to pay USD 115 mln (USD 2.13 per share) of the company’s 2006 profits in dividends, implying a dividend yield of 6.9%. As we reported ealier, the company reported net sales of USD 752 mln and net income of USD 111.7 mln at its AGM today. NITR officials also forecast sales of USD 891mln and net income of USD 128.7 mln with cost of goods sold of USD 614 in 2007.