MOSCOW, June 23 (RIA Novosti) - Novoship [RTS: NOMPP] shareholders decided at an annual meeting to spend $9.3 million, or 20% of the company's net profit, on 2005 dividends, the shipping company said Friday.

Russia's second largest tanker company based in Novorossiisk on the Black Sea, said dividends on Ordinary shares totaled 187.92 mln rubles ($.6.9 mln), and 62.64 mln rubles ($2.3 mln) on preferred shares. Payments will be made at 0.5 rubles per share starting from August 8.

The Federal Property Management Agency holds 60.73% of voting shares in Novoship, the Federal Property Fund 6.4%, Novoshipinvest 8.49%, and Intrigue Shipping 14.41%.