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VUZ-Bank to pass dividend

OAO VUZ-Bank will not pay any share dividends for the year 2009. The decision to this extent was taken by the bank’s stockholders in the course of the recent AGM in Moscow.

The bank explains the lack of dividends has to do with the actual lack of profits. In fact, VUZ-Bank finished last year off with 156.31 million RUR worth of losses; these will have to be compensated with the remains of the earlier years’ profits.
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