CEO says Aeroflot ready to pay 50% of net profit in divs for 2016

MOSCOW, May 19 (PRIME) -- Russian national flag carrier Aeroflot is waiting for a government ruling on the company’s dividends for 2016, but is ready to pay half of a 38.826 billion ruble net profit calculated under International Financial Reporting Standards (IFRS), CEO Vitaly Savelyev said on Friday at a meeting with Prime Minister Dmitry Medvedev.

“We managed to receive a net profit of 39 billion rubles last year, and Aeroflot is ready to pay up to 50% of it in dividends to shareholders if the government issues a corresponding ruling,” he said.

The company paid no dividends for 2015, when it had a 6.5 billion ruble loss. Aeroflot’s dividend policy encompasses payment of 25% of the IFRS net profit for a year in dividends.

According to the Web site of Aeroflot, the Federal State Property Management Agency owns 51.2% in the company and free-float is 41%.

(57.4683 rubles – U.S. $1)

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