6 Apr 2018 14:43

GEH subsidiaries to increase dividends for 2017 compared with 2016 - Fyodorov

MOSCOW. April 6 (Interfax) - The dividends for 2017 paid by Gazprom Energoholding (GEH) will be greater than dividend level paid for 2016, GEH chief Denis Fyodorov told journalists.

"More than last year, for all subsidiaries," Fyodorov said, responding to a question on the size of dividends of GEH's subsidiaries for 2017. "We have a strategy which means that dividends per share should be higher than in the previous period," he said.

In September, following a meeting with GEH representatives, analysts at Aton said that the company may adjust the dividend policies of its subsidiaries PJSC Mosenergo and PJSC TGK-1 in the manner of OGK-2. Experts said that the company is concentrating on increasing total payments in the future. OGK-2 changed its dividend policy, excluding the payments of dividends at 5%-35% of RAS net profit from its plan and including the possibility of paying interim dividends.

Last March, Mosenergo and TGK-1 management said in a conference call that payments to shareholders in 2017 would most likely be no lower than payments for 2016.