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Russian Grids

May 6, 2020

Rosseti plans to pay record-high dividends at year-end 2019

Rosseti plans to pay out RUB 23 billion of dividends in 2019, with interim dividends of RUB 5 billion in Q1 2019.

During its online meeting on April 30, 2020, the Board of Directors of Rosseti recommended that the holding’s shareholders make a decision at the annual general meeting on payment of dividends in the amount of RUB 17.99 billion.

It is recommended to pay dividends on Company’s preferred shares from net profit in the amount of RUB 392.8 million in cash (RUB 0.189304 per preferred share), on ordinary shares from net profit in the amount of 17 599.4 million in cash (RUB 0,0885155625 per ordinary share).

“Over the past three years, Rosseti has been consistently improving production, financial and economic indicators and actively increase the investment attractiveness of the holding. The 2019 dividends are almost four times higher than any dividends the company ever paid. The management will continue to work to increase shareholder returns and to resolve the tasks faced by the holding in the most efficient way with due account for the interests of all stakeholders of the group,” commented Pavel Livinsky, Director General of Rosseti.

The dividend payment decision will be made at the Annual General Meeting of Shareholders to take place on June 1, 2020.

 

 

 

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