Profit distribution

As of 2010, IDGC of Urals gained net profit equaling RUR 1 684 773 thous. Net profit is calculated according to our financial statements. According to the Charter, our GSM adopts the final resolution on profit distribution. Target net profit distribution, as of 2010, is as follows:

  As of 2010 As of 2009 As of 2008
Net profit 1 684 773 1 053 267 861 352
Reserve fund 84 349 52 553 43 068
Dividends 245 550 0 0
Enterprise development 1 354 874 1 000 714 818 284

According to statements stipulated by article 8 of the Charter and Federal Law “On Joint-Stock Companies”, the reserve fund is created by a GSM resolution. According to the Charter, annual contributions to the reserve fund total 5% of the net profit. Therefore, as of 2010, a part of the net profit equaling RUR 84 349 thous. is contributed to the reserve fund created for the coverage of company losses, bond redemption and share buy-back in cases when there are no other resources. A considerable share of the net profit equaling RUR 1 354 874 thous. is planned to be distributed for enterprise development. RUR 245 550 thous. will be forwarded for 2010 dividend payout.