12 Sep 2019 15:10

MOESK may pay interim dividends for 9M for first time

MOSCOW. Sept 12 (Interfax) - Moscow United Electric Grid Company (MOESK) could pay interim dividends for 9M 2019 for the first time, MOESK head Pyotr Sinyutin said during in a press conference at Interfax.

The relevant decision was approved by the company's strategy commission on Tuesday, Sinyutin said.

"We had a meeting of the strategy committee ahead of the latest board of directors meeting, which first time in the company's history approved payment of interim dividends for 9M," Sinyutin said.

"This became possible since we were able to show shareholders rather sure-handed, confident operating results. There are operating results for six months where we are, overall, exceeding all indicators. I would like to say and highlight here that this not because the company is being "overfed" with tariff decisions. The opposite is true. It is due to the fact that we have a comprehensive approach to provision of services and differentiate our revenue. For this reason, it has become possible to raise the matter of paying [interim dividends]," the executive said.

The company has not disclosed the volume of expected payments.