27 Aug 2019 11:42

VSMPO-Avisma might raise H1 dividend 17% to 884.60 rubles/share

YEKATERINBURG. Aug 27 (Interfax) - The board of directors of VSMPO-Avisma Corporation , Russia's leading titanium producer, has recommended that shareholders approve dividends for the first half of 2019 in the amount of 884.60 rubles per share, the company reported.

VSMPO-Avisma paid an interim dividend of 756 rubles per share for the first half of 2018, so dividends could increase by 17% for the first half of 2019.

The company is planning to pay out a total of over 10.199 billion rubles. In H1, its net profit to Russian Accounting Standards (RAS) grew 1.5-fold year-on-year, to 12.83 billion rubles. The proposed dividends thus represent 79.5% of net profit.

The proposed record date is October 11.

Shareholders will vote on dividends in an absentee ballot as part of the extraordinary general meeting on September 27. The record date for participation is September 3.

VSMPO-Visma has 11,529,538 shares with a par value of 1 ruble in circulation.