RusHydro may switch to calculating dividends from EBITDA - newspaper
MOSCOW. Oct 18 (Interfax) - PJSC RusHydro may change its dividend policy, switching to calculation of dividends based on earnings before interest, taxes, depreciation and amortization (EBITDA) and not net profit, the newspaper Vedomosti reported, citing sources.
The change is an issue for next year, one of the sources said. The sources did not specify the percentage of EBITDA that might be paid as dividends. RusHydro chief Nikolai Shulginov told Interfax at Russian Energy Week that work was underway at the company to alter the dividend policy due to the need to pay forward contracts, but that this was not a matter for the next few days.
RusHydro currently strives to pay no less than 50% of IFRS net profit as dividends. It paid 20 billion rubles in dividends for 2016 (50% of IFRS net profit). "RusHydro is not currently considering a change in the dividend policy," a company representative said.