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Meat Production, Global Ports, Gas Talks: Business in Brief

Russia's Cherkizovo Meat Producer Recommends Dividend Payment

Russian meat producer Cherkizovo said on Monday its board had recommended paying its maiden dividend of 1.5 billion rubles ($39.5 million), or 34.44 rubles per ordinary share.

The company will hold a shareholder meeting to discuss the dividend payment on Nov. 10 with the closing date for payment on Nov. 21, it said in a statement.

"In the future we plan to provide well-balanced dividend yields for our investors, while investments in dynamic growth and strategic M&As will remain the top priority for the company," Sergei Mikhailov, Cherkizovo CEO, said in the statement. (MT)

Profits at Russia's Global Ports Rise 30 percent in H1

London-listed Russian ports operator Global Ports said Monday its first-half net profit rose 30 percent year-on-year, helped by the acquisition of rival NCC in December 2013.

Net profit, attributable to equity holders, rose to $69.9 million from $53.7 million a year earlier while revenue jumped 70 percent to $286.5 million, the firm said in a statement.

On a comparable basis, revenue was down 4.7 percent due to a lower container throughput. But a weaker ruble and cost control helped hit a record margin on adjusted earnings before interest, taxes, depreciation and amortization of 66.3 percent, it said. (MT)

Ukraine-Russia-EU Gas Talks Delayed

Trilateral talks between Russia, the European Commission and Ukraine aimed at resolving gas dispute will not take place on Sept. 20 as it had been proposed earlier, a spokeswoman for the Russian Energy Ministry said Monday.

"Another date has to be agreed," she said.

Last week, the European Commission had proposed the meeting, also involving Kiev, should go ahead in Berlin on Sept. 20. The Russian Energy Ministry spokeswoman said the meeting is more likely to take place after Sept. 20. (MT)

Government Guarantees Defense Contracts

The Russian government will provide state guarantees for defense industry contracts for up to five years, RIA news agency cited Prime Minister Dmitry Medvedev as saying Monday.

"I have signed … a government order to provide guarantees for up to five years for defense companies when they are fulfilling state defense contracts," the agency cited Medvedev as saying at a government meeting. (MT)

Early Introduction of Ukraine-EU Deal Would Trigger 'Protective Measures'

Russia will honor all its agreements with the European Union and Ukraine, but will trigger "protective measures" if a trade pact between the two comes into force early, Prime Minister Dmitry Medvedev was quoted by RIA news agency as saying.

The European Union and Ukraine agreed on Friday to delay the implementation of their free-trade pact until the end of 2015 in a concession to Russia, which is at loggerheads with Kiev over the conflict in eastern Ukraine.

Medvedev also said on Monday the decision made in Brussels must be given a legal basis. (Reuters)

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