FGC board recommends dividends of 847.4 mln rubles for 2014
MOSCOW. May 29 (Interfax) - The board of directors of Federal Grid Company UES (FGC) has recommended dividends for 2014 in the amount of 847.4 million rubles, the company said.
The dividend per share will be 0.06647883 kopecks. The dividend record date will be July 16.
Net profit to Russian Accounting Standards (RAS) was 5.1 billion rubles last year. Given the 437 million rubles paid for the first quarter, the 2014 dividends will represent 25% of net profit.
These will be FGC's first annual dividends since 2011. The company paid an interim dividend for Q1 2014.
Federal Grid Company is the operator and manager of Russia's unified electricity transmission grid system, including high voltage transmission lines. The state-owned OJSC Russian Grids owns 80.13% of shares.