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AVTOVAZ to mull annual dividend
RBC, 16.05.2008, Tolyatti 17:29:30.The Board of Directors of AVTOVAZ has recommended that its shareholders approve a dividend of RUB 0.29 (approx. USD 0.012) per common and preferred share for 2007, the Russian car producer's press office reported today. The board also approved reports on the results of the recent additional share issue placed by means of a conversion as part of AVTOVAZ restructuring. The shareholders will also be recommended to make amendments to the company's Articles of Association providing for the establishment of a single executive body represented by AVTOVAZ President and a collegial body (the Management Board). In addition, the Board of Directors has considered amendments to the Articles of Association regarding changes in company's share capital that resulted from its restructuring. The annual shareholders meeting is scheduled for June 27.
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