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Economy 31/05/2011 Maxam-Chirchiq to pay 2,271.78 soums of dividends for 2010
Maxam-Chirchiq to pay 2,271.78 soums of dividends for 2010
Tashkent, Uzbekistan (UzDaily.com) -- Shareholders of Maxam-Chirchiq open joint stock company adopted decision to pay dividends for 2010. The company distributed its income for 2010 at the size of 7.571 billion soums.

The shareholders of the company directed 5.679 billion soums to payment of dividends, which makes up 75% of net income. The dividend size per share will make up 2,271.78 soums, taking into account that Maxam-Chirchiq paid interim dividends for 600 soums per share for nine months of 2010.

The company said that total number of shares, on which dividends are paid, makes up 2,499,618.

Maxam-Chirchiq directed over 1,171 billion soums to payment of dividends in 2010. The size of dividend per share made up 1,599 soums in 2009.

Uzkimyosanoat state joint stock company owns 51% (1,274,805) shares in Maxam-Chirchiq, while МахамCorp International S.L.U. holds 49% (1,224,813).

Shareholders directed 378.572 million soums (5% of net income) to reserve fund, 75.714 million soums (1%) to fund of labour production and technical security, and 1.363 billion soums (18%) to development of production. The company will direct 75.714 million soums (1%) to Fund on modernization and new technologies.

Maxam-Chirchiq OJSC, former Elektrohimprom, was commissioned in 1940 and specializes on production of ammonia, ammonium nitrate, and carbamide. MaxamCorp S.A.U. purchased 49% stake at Elektrohimprom for US$22 million in 2007. The company undertook obligation to invest US$55 million in next five years. The charter capital of the company is 24.996 billion soums.

Maxam-Chirchiq is a leading chemical enterprise in Uzbekistan, which produces 30 types of goods. The company realizes its products in internal market and exports to the countries of the CIS, European Union, USA, Latin America, and Australia.

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