16 May 2013 15:58

Inter RAO directors recommend against dividends for 2012

MOSCOW. May 16 (Interfax) - The board of directors at OJSC Inter RAO UES has recommended that shareholders waive dividends for 2012 due to last year's losses of 14.36 billion rubles.

The company's annual shareholders meeting is scheduled for June 25 and the register closes May 20.

Inter RAO paid no dividends for 2011, also because of losses.

The energy holding confirmed in 2011 dividend policy that stipulates an annual payout of at least 5% of net profit.