Rubizhanskyi shareholders decide not to pay 2001 dividends

The meeting of shareholders of Ukrainian OJSC Rubizhanskyi board-container plant, Luhansk oblast, has decided to use the plant“s net profit made in 2001 (UAH 34.6 million) for its modernization and t…

The meeting of shareholders of Ukrainian OJSC Rubizhanskyi board-container plant, Luhansk oblast, has decided to use the plant“s net profit made in 2001 (UAH 34.6 million) for its modernization and technical renovation, rather than paying dividends. According to finport.net, the plan of distributing the profit to be made this year does not provide for dividend payment either. This decision is due to the company“s plans to carry out a large-scale modernization and renovation of its production facilities. The plant specializes in making container board for flat layers of corrugator and processing of container board into corrugated containers and corrugator. The Rubizhanskyi board-container plant is the only Ukrainian maker of corrugated containers holding the international certificate of quality ISO-9001. In 2001, the plant increased the output of corrugated containers by 16.7% (to 113.7 million sq. m.) in comparison with 2000. Over January-May 2002, its production rose by 20% (to 49.7 million sq. m.) in comparison with the first five months of 2001. The company“s biggest shareholders are Ukrpapirprom (20% of shares), CJSC RubiPak (39.96%) and UK“s DSS Eastern Europe Ltd. (20.1%).