MOSCOW, June 28 (RIA Novosti) -- Vsmpo-Avisma (RTS: VSMO) approved 2005 dividends at 37.88 rubles (about $1.4) per share, 31% up on 2004 payouts, at a shareholders meeting, the company's head of PR said Wednesday.
The meeting also approved the corporation's 2005 financial report, including the profit and loss statement, and reelected the board of directors.
Vsmpo-Avisma was established in July 2005, when Avisma (Special Aviation Materials, a Soviet-era enterprise) merged with Vsmpo (Verkhnaya Salda Metallurgical Production Association).
The corporation controls a third of the world's titanium market. Its main partners are U.S. and European aircraft giants Boeing and Airbus, who account for 30% of its earnings.
