Sibur planning to pay 15.6 bln rubles in dividends for 2015
MOSCOW. April 7 (Interfax) - Sibur is planning to allocate 25% of adjusted net profit, which amounted to 62.3 billion rubles, towards dividends for 2015, Sibur CEO and shareholder Dmitry Konov and CFO Alexander Petrov said at a press conference in Moscow.
So, 15.6 billion rubles may be allocated towards payments.
For the 9M Sibur already paid shareholders 8.5 billion rubles.
Petrov also said that the policy for the payment of dividends in the amount of 25% of net profit to International Financial Reporting Standards (IFRS) "was and remains" in place.
He said that during the determination of the base for the calculation of dividends, the company is not taking exchange rate differences into account. "Only the realized exchange rate differences are lowering [the base]," the CFO said.
Petrov said that "realized exchange rate difference" applies only to debts, which were repaid during the reporting period, and does not take those into account that affect the revaluation of unpaid debt.
It was reported earlier that Sibur shareholders will consider the payment of dividends for 2015 at their meeting on April 26.
Major Sibur shareholders include Novatek co-owners Leonid Mikhelson (43.2%) and Gennady Timchenko (14.14%), former Sibur Deputy CEO Kirill Shamalov (20.92%), China's Sinopec bought a 10% stake in Sibur at the end of 2015.
Sibur's executive management owns 11.34% of the company, in particular CEO Dmitry Konov and Gazprom Neft CEO and deputy chairman of Sibur's board of directors Alexander Dyukov own about 4% each, Executive Director Mikhail Karisalov owns 1.65% of Sibur, former CFO Pavel Maly owns 1.14% and management member Mikhail Mikhilov owns 0.56%.
