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Saturn decided to pass dividends.

At the NPO Saturn annual meeting June 25 the holders approved the non-payment of the 2013-dividends, the company informed.

2.9bn rub. of losses will be covered out of the retained profit. The 2012-dividends were unpaid. BDO was affirmed as an auditor. The holders approved the guarantee contract with VTB Bank on the 1.2bn rub. worth credit contracts in favor of OMKB.

Saturn NPO (TIN 7610052644) was formed on the basis of Rybinskie Motors and A.Lyulka-Saturn in July 2001. It is a leading engine production company providing development, servicing and production of gas turbine engines for different sectors of economy.

The share capital is equal to 3.984bn rub. split in 3983657690 common stocks of 1 rub. par. The Company is included into Joint Engine Corp. (ODK) as Oboronprom sub set up to provide management over the engine building assets.

The 2013-net losses increased 2.53 fold (RAS) to 2.9bn rub. from 1.146bn rub. prior year; revenues rallied up 35.74% to 17.678bn rub. from 13.023bn rub.; profit from sales - 3.91 fold to 1.642bn rub. from 430.12mln rub.; pretax losses - 59.75% to 2.441bn rub. from 1.528bn rub.

"AK&M", 14:50, 26.06.2014 1251 AKM,COR


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