RZD Board of Directors recommends paying out 5.1 bln rubles in dividends for 2016, 50% of IFRS profit

Home > Newsroom > Top Stories > RZD Board of Directors recommends paying out 5.1 bln rubles in dividends for 2016, 50% of IFRS profit

RZD Board of Directors recommends paying out 5.1 bln rubles in dividends for 2016, 50% of IFRS profit

MOSCOW. June 21 (Interfax) - Russian Railways' (RZD) Board of Directors has recommended to the company's sole owner, the Russian government, paying out 5.1 billion rubles in dividends for 2016 on ordinary shares, the company said in a statement.

The railway monopoly said that this would amount to 50% of net profit to International Financial Reporting Standards (IFRS) in 2016, or 79.2% of net profit to Russian Accounting Standards (RAS). In addition, the board recommended paying out 5 million on preferred shares. The decisions were made at a meeting on June 5.