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Lithuania Earns Record Dividends From State Companies, BNS Says

Jan. 28 (Bloomberg) -- Lithuania’s state-owned companies paid the government a record 522 million litai ($203 million) in dividends last year, six times more than in 2011, the Baltic News Service reported, citing a draft Finance Ministry report.

Power utility Visagino Atomine Elektrine UAB paid 275 million litai of dividends from the profits of its Litgrid AB and Lesto AB subsidiaries, while railway operator Lietuvos Gelezinkeliai AB paid 123 million litai, according to BNS.

The Klaipeda Port on the Baltic Sea made a 34 million litai payment to the budget, its first ever, BNS said. The government had targeted dividend revenue of 589 million litai in 2012, according to the newswire.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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