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. Last Updated: 07/27/2016

Baltic Denies Dividend

ST. PETERSBURG -- Shareholders at troubled Baltic Shipping voted not to pay a dividend again for 1995, after passing on a dividend for 1994, the president of the company, Grigory Filimonov, said Thursday.

Baltic Shipping made a pretax loss of 215.82 billion rubles ($44 million) after a profit of 3.22 billion rubles in 1994.

The company sold 42 ships during 1995 to other lines or for scrap from the 106 on its books at the end of 1994.