CEO says TransContainer can pay 50% of RAS net profit in ’18 divs

VIENNA, Mar 19 (PRIME) – The management of container shipping company TransContainer believe that the company can pay 50% of the net profit under Russian Accounting Standards (RAS) in dividends for 2018, CEO Vyacheslav Sarayev told reporters on Tuesday.

“At the moment the budget is formed so that we can confidently allocate up to 50%, even 50% on dividends without deteriorating the EBITDA (earnings before interest, taxes, depreciation and amortization) to debt ratio. Further on, this is a decision for the board of directors,” Sarayev said.

He also said that the board of directors can recommend the dividends at the end of April or in mid-May.

TransContainer’s dividend policy envisages payment of 25% of the RAS net profit in dividends, but the company paid 75% of the net profit for 2016 and 2017.

Russian Railways owns 50% plus two shares in TransContainer, VTB has 24.8%, and Enisey Capital, owned by businessmen Roman Abramovich and Alexei Abramov, holds 24.5051%.

(64.6694 rubles – U.S. $1)

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