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Agrimill-Agrimpex pays Ft 1.37 bln dividend

Shareholders of grain storage company Agrimill-Agrimpex Rt approved at an annual shareholders' meeting on Tuesday payment of a Ft 1.375 billion dividend from 2005's after-tax profit of Ft 166 million and from profit reserves.

The dividend calculates as Ft 1,070 per share. Agrimill-Agrimpex last paid a dividend, of Ft 20 per share, on 1992 profits. The company had revenue of Ft 639 million in 2005, down from Ft 5 billion a year earlier, because of the sale of its milling operations. The company had losses of Ft 360 million in 2004. At the end of 2005, Agrimill-Agrimpex had capital reserves of Ft 1.993 billion and net assets of Ft 3.57 billion, excluding the dividend. Agrimill-Agrimpex is 92.8% owned by Hungary's Investor Holding Rt, which in turn is owned by US-registered Kenyon Phillips Acquisition.