Grigiskes to pay LTL 2 billion dividends
5. On April, 22 2005 the general meeting of Grigiskes (Lithuania) decided to pay dividends of LTL 2 million ($5.4 million).
Apr 26, 2005. /Lesprom Network/. On April, 22 2005 the general meeting of Grigiskes (Lithuania) decided to pay dividends of LTL 2 million ($5.4 million).
In 2004 the enterprise reported profits of LTL 5.74 million ($15.5 million).
The rate of dividends is set at 5% per share.
In 2005 Grigiskes intends to reach the turnover of LTL 109.16 million ($295 million) and earn LTL 8.02 million ($21.7 million) of profits (tax payments included), allocate LTL 23.8 million ($62.4 million) for investments. The major part of investments will be directed to the increase of tissue paper proudction capacity 1.5 times.
Main shareholder of Grigiskes is Ginvildos investicija owning 46.68% of shares of the stock capital of the company. Around 80% shares are owned by the head of Grigiskes Gintautas Pangonis.