Profitable Perm plant plans to refuse to pay dividends

Perm PJSC Krasnokamsk Metal Mesh Plant (KZMS), which increased its net profit by tens of millions of rubles in 2022, plans to refuse to pay dividends. Such a decision was recommended to be taken by the shareholders by the Supervisory Board of Directors of the enterprise. This was reported on the website of the Corporate Information Disclosure Center (Interfax-TsRKI).

“The content of the decision of the board of directors of the MEMC is to recommend to the annual general meeting of shareholders to approve the following distribution of profits based on the results of the 2022 financial year. Profit at the end of the year should be directed to the development of production, dividends should not be paid, ”the final protocol of the meeting of the Supervisory Board says.

It is specified that four of the seven members of the board of directors voted for the refusal to pay dividends. The rest were against it. The net profit of KZMS for 2022 amounted to 176 million rubles, having increased by almost 80 million rubles compared to 2021.

Perm KZMS is one of the key producers of metal and synthetic nets in Europe, including those for the pulp and paper industry. Nets produced by the plant are used for forming, dewatering, filtering, screening. They are also used as conveyor belts.