Baltika announced dividends in Baku

JSC Baki Pive last week announced the granting to shareholders gepiks 15 per share, or 7.5% of the nominal value of shares. The brewery is leased by LLC Baltika-Baki (member of Karlsberg Group), which owns 91% stake in the company.

According to the minority shareholder Bashir Bayramov, at the end of 2013 net profit of Baki Pive amounted to over 380,000 manat, of which 50% is directed to the payment of dividends. Shareholders receive dividends on the basis of 7-7.5% of the nominal last 5 years.

In LLC Baltika-Baki they did not comment financial results of JSC Baki Pive last year.

Held on June 18th general meeting of shareholders was formed a new Board of Directors, which is the majority shareholder.

First dividend of JSC Baki Pive was announced in 2009, after the sale in 2008 the share by Group Castel (France) to the Russian brewery Baltika.

Besides the rent, LLC Baltika-Baki transfers the company 1% of the actual profit. According to Karlsberg Group, LLC Baltika-Baki owns 73% of the beer market in Azerbaijan.

JSC Baki Pive was privatized in 1997. Its registered capital is 2.47 million manat. Minorities (over 300 individuals) owns 9% of the shares.-08B-