18 Mar 2014 18:14

Sibur may ignore non-cash items in calculating 2013 dividends

MOSCOW. March 18 (Interfax) - The management of Sibur is proposing that non-cash items be ignored in calculating dividends for 2013, CFO Pavel Maly said at a press conference.

The board of directors, which is scheduled to meet next week, will make the final decision on the matter.

Sibur posted a net profit of 45.6 billion rubles in 2013 under international financial reporting standards (IFRS), 24.1% less than in 2012. However, excluding non-cash spending on management compensation and de-consolidation of Yugragazpererabotka, the net profit was 50.9 billion rubles, just 15.2% less than in 2012.

Sibur's current dividend policy is to pay about 25% of IFRS net profit as dividends.