TGK-1 planning 2017 dividends at least level with 2016 in cash
MOSCOW. March 12 (Interfax) - TGK-1 envisages that dividends for 2017 will be at least level with those paid for 2016, a representative of the generating company said on a conference call devoted to financial results to IFRS.
"We can only assume, according to the latest practice in value terms, the amount allocated as dividends [for 2017] will most likely not be below the amount allocated as dividends for last year," a TGK-1 spokesperson said, adding that the size of dividends and the final figure will be clear following a shareholder decision.
Shareholders approved a dividend of 0.000345336 rubles per share or 1,331,043,000 rubles in total from net profit to Russian Accounting Standards (RAS) for 2016.
TGK-1 doubled net profit to RAS in 2017 to 7.261 billion rubles. Net profit to International Financial Reporting Standards (IFRS) rose 48.8% to 7.927 billion rubles.