28 May 2019 11:34

Rosseti to consider supplementary dividends this year

MOSCOW. May 28 (Interfax) - Rosseti will consider paying supplementary dividends this year, the national grid holding told reporters.

"Bolstering the company's investment appeal and shareholder value is one of Rosseti management's key tasks. In connection with this, the possibility of paying supplementary dividends on the basis of interim financial reporting by Rosseti will be considered this year," the company said.

These dividends would be in addition to the 5 billion rubles' worth that have already been recommended. Rosseti referred to a "step-by-step increase in dividend payouts" as "confirmation of statements made previously by the management regarding a new stage in the company's interaction with the market. It attests to the correct vector of development and is a positive signal for investors."

On Monday, the company's board of directors recommended dividend payouts of 0.07997 rubles per pref and 0.02443 per ordinary share for Q1.

Rosseti's has 200.903 billion rubles in charter capital, divided into as many shares with face values of 1 ruble, including 198.828 billion ordinary shares and 2.075 billion prefs. Thus, payouts may reach 165.95 million rubles for prefs and 4.86 billion rubles for ordinary shares. A total of about 5.03 billion rubles may be paid out for Q1.

The board of directors recommended not paying dividends for 2018, when the company suffered a loss.

Last year, the company only paid dividends for Q1 (2.467 billion rubles, less than half the amount proposed for Q1 2019). It suffered a loss in 2017 and did not pay dividends.

The annual general meeting will take place on June 27. The record date for participation is June 3.