Aeroflot to Raise Dividend Despite Profit Fall

Russia’s largest airline Aeroflot will raise its dividend in 2007 despite lower profit. The company, which posted a net profit of RUB6.07 billion to Russian Accounting Standards in 2007, said it would pay RUB1.52 billion in dividends or RUB1.367 per share, representing 25 percent of the annual profit.

In 2006, it paid RUB1.287 per share from profit of RUB7.9 billion, a ratio of 17.9 percent. The state controls 51 percent in Aeroflot, which was previously the Soviet Union’s sole carrier.

Some 30 percent is controlled by the National Reserve Corporation of businessman Alexander Lebedev, around 10 percent is held by management and about nine percent is freely traded.