MOSCOW, June 2 (RIA Novosti) - TVEL, Russia's leading producer and supplier of nuclear fuel for power plants, said Friday its net profit had fallen by one-third in 2005, from 4.58 billion rubles (about $170 mln) to 3.09 bln rubles (about $123 mln).
The corporation's board of directors recommended that 3.09 mln rubles (about $123,000) be paid in dividends and approved a decision to float an additional share issue designed to increase the authorized capital of two subsidiaries - the Chepetsk mechanical plant and the Priargun uranium ore-mining and processing factory - the company said in a news release.
The board also confirmed Anton Badenkov as TVEL's acting chief executive officer after Alexander Nyago died after a long illness on May 2.
Sergei Sobyanin, the head of the Kremlin administration, was appointed TVEL's chairman May 26.
