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EUR 3.551 million of Latvijas Dzelzcels profit to be used for development of railway infrastructure.

RIGA, Jan 28 (LETA) - Latvijas Dzelzcels railway company will not have to pay dividends from its 2018 profit, and EUR 3.551 million of the profit will be used for development of railway infrastructure, the Cabinet of Ministers decided today.

The government today supported the Transport Ministry's decree on dividends from Latvijas Dzelzcels profit for 2018.

The ministry explained that it will improve Latvijas Dzelzcels service quality.

The company's profit in 2018 was EUR 4,177,764, and 85 percent of the profit or EUR 3,551,099 should be paid in dividends to the state.

In 2018, Latvijas Dzelzcels posted EUR 209.431 million in turnover.

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Date:Jan 28, 2020
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