Skip navigation
Newswire

Russia's AvtoVaz pledges higher 2003 dividend

MOSCOW, March 16 (Reuters) - Russia's largest carmaker AvtoVAZ will pay a higher dividend on its 2003 profits, which rose six-fold compared to the previous year, the firm's chairman Vladimir Kadannikovsaid on Tuesday. "In percentage terms (the amount of net profit allocated for dividends) will be roughly the same as in 2002 but the size of dividends will be bigger because of higher profit," Kadannikov told an investor conference in Moscow.