AvtoVAZ Shelves Dividends, Saves Funds for Investment, IFX Says

OAO AvtoVAZ (AVAZ), Russia’s largest carmaker partly owned by Renault SA (RNO), won’t pay dividends for several years as it plans to boost investment, Interfax reported today, citing AvtoVAZ Chief Executive Officer Igor Komarov.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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