29 May 2018 09:23

T Plus might pay shareholders 2.9 bln rubles for 2017

MOSCOW. May 29 (Interfax) - T Plus might pay shareholders 2.9 billion rubles in dividends from net profit for 2017, the Russian power company reported, citing a recommendation that its board of directors made last week.

The dividend per share would be 0.0656 rubles in this case. T Plus closed 2017 with a net profit of 3.1 billion rubles to Russian Accounting Standards, so the board recommended paying out 93.5% of RAS net profit.

If shareholders approve the recommendation, these will be the company's first dividends ever. The company will hold its shareholder meeting on June 29 in Moscow.

At the beginning of April, T Plus CEO Denis Pasler said that the company was not planning to pay dividends for 2017-2018. "While there are plans to build new power plants, both solar and [under] capacity supply agreements (CSA), there won't be payouts. If there will be CSA-2, then it's clear what we have to do for the next ten years," Pasler said, referring to a program to modernize power generating capacity.