25 Oct 2019 13:23

MOESK to propose paying out at least 50% of total sum for year in 9M dividends

MOSCOW. Oct 25 (Interfax) - The board of directors of Moscow United Electricity Distribution Company (MOESK) believes it would be advisable to pay out "at least 50% of the total amount of annual dividends planned for 2019" in 9M dividends, the company said.

The company told Interfax that "final recommendations on the size of dividends should be approved in November."

The company has not disclosed the total volume of planned payments this year.

"The payment of interim dividends is an important step within the company's strategy to increase shareholder value. They will help maximize effects for investors, make MOESK equities more attractive," the company's first deputy head Vladimir Myasnikov was quoted as saying.

He said earlier that MOESK is ready to continue paying interim dividends in the future if its experience with 9M dividends is positive. "To be honest, [retaining this practice] is not yet in our business plan, but we have discussed it within the [strategy] committee. We said that if this experience proves positive, we'll make it systematic," he said.