AvtoVAZ has recommended paying no dividends for 2009. The decision followed a similar move in 2008 by Russia’s largest automaker.

Any move not to pay a dividend is due to be discussed at AvtoVAZ’s annual general meeting on 24 June.

AvtoVAZ recently announced price rises for its vehicles of 0.7%-3%, with costs increasing for the Lada Kalina and Priora cars by 0.68% and 1.66%, respectively, while Samara and 2105/2107 stickers were raised by about 3%.

The automaker attributed the higher prices mainly to increased prices for materials and components.