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Economy 14/07/2011 UzPakhtaMash to direct 57.7% of net income to stimulate employees
UzPakhtaMash to direct 57.7% of net income to stimulate employees
Tashkent, Uzbekistan (UzDaily.com) -- General shareholders meeting of UzPakhtaMash open joint stock company (Uzbek Cotton Machinery) distributed net income of the company for 2010.

As reported earlier, net income of decreased from 264.188 million soums in 2009 to 58.19 million soums in 2010.

According to shareholders, the company will direct 10% of net income or 7.819 million soums for fulfillment of reserve fund.

Shareholders directed 2.327 million soums (4% of net income) to stimulate members of Supervisory Council, 17457 million soums (0.3%) to stimulate members of Revision Commission and 33.575 million soums (57.7%) to stimulate employees.

Shareholders allocated 28% net income or 16.293 million soums to payment of dividends or 21.32 soums per ordinary share.

UzPakhtaMash JSC is situated in Tashkent city. The factory was put into operation in 1946. The main type of activity of the enterprise is production of cotton processing machines.

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