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Acron Dividend Way Up

The board of Acron recommended paying 46 rubles ($1.45) per share in dividends for the fourth quarter of 2011, which is more than the dividend paid for the whole of 2010, the company said Friday.

Together with dividends paid for the first nine months of 2011, total payout for last year is expected to jump to 175 rubles per share, up from 40 rubles per share paid a year earlier.

Total payout for 2011 would amount to 8.35 billion rubles, with the record date of May 11, Acron added. Acron saw a net profit of 20.3 billion rubles last year, up from 6.3 billion rubles in 2010 on the heels of strong demand for fertilizers.

(Reuters)

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