Moscow power distribution co MOESK could up 2012 dividends
MOSCOW. Jan 29 (Interfax) - Moscow United Electricity Distribution Company (MOESK) could pay a higher dividend for 2012 than for 2011, the company's first deputy CEO, Alexander Inozemtsev, told a press conference at Interfax.
"Dividends will be a little higher than for last year," Inozemtsev said.
MOESK's dividend policy is to pay shareholders at least 25% of net profit from power transmission to shareholders.
Dividends were 0.025 rubles a share or just over 1.2 billion rubles in total for 2012, and 0.0246371 rubles a share or 1.2 billion rubles for 2010.
The company said its net profit to Russian Accounting Standards (RAS) was 17.1 billion rubles in 2012, as in 2011.
It has 48,707,091,574 issued ordinary shares, par value 0.5 rubles each. The shareholders are the Inter-District Grid Company Holding (IDGC Holding) (51%), Gazprom Group (31%) and the City of Moscow owns 8%. The free float is just over 8%.
MOESK said sales revenue to RAS grew 7% last year to 17.9 billion rubles. Earnings before taxes, depreciation and amortization (EBITDA) came to 40.9 billion rubles and the EBITDA margin was 34.7%.
The company supplied 78.5 billion kilowatt-hours of electricity in 2012.
Its investment program for 2012 is 52.2 billion rubles.