Ukrrichflot AGM Approves USD 1.2 mln Dividend Payout

Ukrrichflot (FLOT: N/R) shareholders, at their AGM today, voted to make a USD 1.2 mln (27.7% of 2007 net profit) dividend payout (DPS of USD 0.015, yield of 0.6%). Ex-dividend date is July 1. Shareholders formally accepted 2007 financial results, which were available two weeks ago (see our news of April 30), and renamed the position of President to CEO. Mykhail Chubayev, newly-dubbed CEO of Ukrrichflot, said that the company planned to increase sales and net income, but did not indicate specific figures.