At a meeting scheduled for 29 April, the shareholders of Latvia“s Valmieras Stikla Skiedra (Valmiera Fiberglass) company are expected to approve the company net profit in 1999 at 536,972 lats (US$ 90…
At a meeting scheduled for 29 April, the shareholders of Latvia“s Valmieras Stikla Skiedra (Valmiera Fiberglass) company are expected to approve the company net profit in 1999 at 536,972 lats (US$ 907,047), the company said in a statement to the Riga Stock Exchange (RSE). The shareholders will consider the proposal to invest 74.5% of the profit, or 400,000 lats into production development and updating and paying the remaining 107,395 lats in dividends. Valmiera Fiberglass is planning to pay 0.8 santims per share in dividends and to choose a dividend calculation date of May 15 and a dividend payment date of May 19. The shareholders at the meeting are also expected to approve the company“s budget for 2000, setting the turnover target at 13.8 million lats and profit target at 450,000 lats. Shares in Valmiera Fiberglass are quoted on the second list of the RSE, the Latvian Central Depository of Securities lists 11.49 million shares in the company.