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Tallink won't pay dividends for 2011
Juhan Tere, BC, Tallinn, 16.05.2012.
Print version
Print versionShipping company Tallink, which earned 37.5 million euros of profit in 2011, will not pay any dividends to shareholders, LETA/Public Broadcasting reports.
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Tallink's council and board made a proposal to the shareholders that the net profit for the financial year 01 September 2010 – 31 December 2011 of 37,476,000 euros to be allocated as follows: 1,873,800 euros to be transferred to the mandatory legal reserve; 35,602,200 euros to be transferred to the retained earnings.
Tallink had an extraordinary five-quarter financial year last year, staring from September 2010 to December 31 last year.
The company's annual general meeting of shareholders will take place on 7th of June.
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