Uzmetkombinat directs 36.15bn soums to increase charter capital

Shareholders of Uzmetkombinat distributed net income of the company for 2013. The company received net income for 47.825 billion soums in 2013.

According to the decision of shareholders, the company will direct over 36.153 billion soums to raise charter capital.

Over 9.28 billion soums will be directed to payment of dividends, of which 9.087 billion soums will be used to pay dividends on ordinary shares and 193.783 million soums – on preferential shares. The size of the dividend per ordinary and preferential share made up 213.79 soums.

The enterprise also directed 2.391 billion soums in the reserve fund.

According to the company, the enterprise is planning to produce 748,200 tonnes of steel, 720,000 tonnes of finished steel, including 180,000 tonnes of milling balls.

The combine produced 746,200 tonnes of steel in 2013, which rose by 1.3% year-on-year in 2012. The production of ferrous metal rolls grew by 1.1% year-on-year to 718,000 tonnes in 2013.

Uzmetkombinat was commissioned in 1956. It processed metal scrap from all Central Asian countries. Currently, the enterprise is not fully loaded due to low volume of supply of metal scrap.