OREANDA-NEWS. On 30 April 2008 was announced, that the annual General Shareholders Meeting of Baltika Breweries held on April 29 approved the Company’s performance, its financial accounting and the yearly report for 2007. Dividends per share rose by 32% compared to the dividend payment of 2006.

In 2007, the Company’s revenues increased by 29.5% compared to 2006. The strong financial results of 2007 made it possible for the Company to raise the dividend payment by 32% compared to the year before.

The high level of dividends was ensured thanks to an increase in the production capacity at Baltika plants and the growing volume of sales, as well as to a number of projects to raise operating efficiencies carried out in the course of 2007. A further contributing factor to the growth of revenue and profits per share was the reduction in the amount of the Company’s charter capital resulting from the buy-back of Baltika shares from all those who wanted to sell. This measure was directed, inter alia, at improving the structure of capital and enhancing the attractiveness of Baltika to investors.

The stable financial situation and reduction in the number of shares in circulation made it possible to raise the dividends being paid out in a record manner, establishing the dividend at 52 rubles per share for both ordinary and preference shares. This decision corresponds to Baltika’s dividend policy, which is directed at yearly increases in the dividends paid out. In accordance with the decision of the Shareholders Meeting, payment of the first part of the dividend will begin on June 1, 2008 and the second part will be paid beginning September 1, 2008.

At the Shareholders Meeting of Baltika Breweries, the composition of the Company’s Board of Directors was also approved as follows:
Artemiev, Anton Olegovich
Ikonnikov, Alexander Vycheslavovich
Isosimov, Alexander Vadimovich
Nicolson, John
Rasmussen, Jшrgen Buhl
Sшndenskov, Bjшrn
Stevenson Andrew

Furthermore, Baltika shareholders elected the members of the Internal Auditing Committee, approved the appointment of the Company’s auditors — KPMG CJSC, A & P Audit CJSC and Ernst & Young Ltd -, approved the amount of compensation and allowances of the members of the Board of Directors and approved the decision for Baltika to participate in the non-profit All-Russian Association of Employers within the Russian Union of Industrialists and Entrepreneurs.

Baltika Breweries is the largest FMCG company in Russia. Since 1996 it has been the leader on the Russian beer market. The Baltika brand is second in Europe in terms of sales. The Company comprises 11 breweries across all of Russia. It has a wide portfolio of brands and its employees number around 12,000.