ChelPipe may pay 6.55 rbl/share in dividends for Jan–September

MOSCOW, Dec 4 (PRIME) -- The board of directors of Russia’s Chelyabinsk Pipe Plant (ChelPipe) has recommended paying 6.55 rubles per share, or a total of 2.002 billion rubles, in dividends for January–September using undisbursed profits of previous years, the company said in a statement on Friday.

The record date for the dividends is January 10, 2021.

In February, the board approved a new dividend policy, under which the company will pay dividends at least twice a year with the minimum combined payout for a year of 7.5 billion rubles in 2020 and in 2021.

The company previously paid 8.18 rubles per share, or a total of 2.5 billion rubles, in final dividends for 2019.

The core shareholders of the company are Board of Directors Chairman Andrei Komarov with a 77.26% stake and Pavel Fyodorov with 10.67%.

(75.1996 rubles – U.S. $1)

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