Enel Russia may revise dividends over thermal plant upgrades

MOSCOW, Feb 6 (PRIME) -- Power producer Enel Russia does not rule out revising its dividend guidance as it participates in a federal thermal power plant upgrade plan and a green power generation program, General Director Carlo Palasciano Villamagna told reporters on Wednesday.

“Compared with previous periods, we now have interesting projects …new possibilities to upgrade old equipment. We should stick to a balance between these possibilities, including possibilities in the renewable energy, and rewards for our shareholders,” he said.

“The plan that you saw was compiled basing on our forecast of dividend payments amounting to 65% of the IFRS net profit. But we do not rule out that we may think about better ways to ensure wellbeing of our shareholders in the future if there is a certain outcome of a tender for upgrades or a new tender for construction of renewable power sources,” he said.

Enel Russia plans to participate in the first round of selection of projects for thermal power plant upgrades and for construction of green power generation. Everything will depend on whether the company wins these tenders or not, he said.

Enel Russia paid 14.493 kopecks per share, or a total of 5.127 billion rubles, in dividends for 2017.

(65.5691 rubles – U.S. $1)

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