‘In terms of theory, paying dividends to Koltsovo airport’s shareholders looks a bit strange. As a rule, a company that keeps investing heavily in its own development does not normally declare any dividends. If a company is prepared to pay the dividends to its shareholders after all, this usually means there is no way of the company’s further development for the time being,’ Management Company’s Investment Director Alexander Metzger said to UrBC.

In the meantime, Koltsovo airport’s last AGM resulted in the stockholders’ decision to declare 74,255,776 RUR worth of dividends for 2007, with 248.5 RUR paid per each ordinary share and 497 RUR paid per each preference share. The dividends are to be paid within sixty days of the decision. These dividend figures exceed those for a year earlier by 37.65 times.

However, throughout the year, the airport’s management used to say they had to go for ongoing jet fuel price increases (which, in its turn, made the price of vacations soar) in order to get enough money to renovate the airport.

‘Perhaps declaring dividends alongside with investing in the company’s development is Koltsovo airport’s usual practice,’ Alexander Metzger suggested.