6 Jul 2017 10:16

TGK-2 not paying 2016 dividends due to losses

YAROSLAVL. July 6 (Interfax) - Shareholders in TGK-2 at their annual meeting on June 30 voted against paying dividends for 2016, the genco said.

Net losses were 2.337 billion rubles last year, compared with to losses of 1.4 billion rubles in 2015. The company did not pay dividends for 2014 or 2015.

TGK-2 includes power plants in five Russian regions: Arkhangelsk, Vologda, Kostroma, Novgorod and Yaroslavl. Sintez Group represents the interests of TGK-2's majority shareholders. Fund manager Prosperity Capital Management has a minority stake.