Shareholders of Baltika Brewery have approved a rise in 2004 dividends. The company said yesterday (30 March) that increased dividends for both types of shares were approved at the general shareholders' meeting yesterday.

A dividend of RUB13.94 (US$0.50) will be paid for common shares, a rise from RUB11.64 in 2003. Preferred shares will receive RUB18.12 each, up from RUB15.13 a year earlier.

Baltika is a subsidiary of Baltic Beverages Holding, which is a joint venture of Carlsberg A/S and Scottish & Newcastle.