Globaltrans confirms plans to pay 16 bln rbl dividends for 2018

MOSCOW, Jan 16 (PRIME) -- One of Russia’s largest railway operators Globaltrans confirms plans to pay 16 billion rubles in 2018 dividends, the company said on Wednesday in a statement quoting CEO Valery Shpakov.

In August 2018, Globaltrans said that favorable market conditions allow the company to pay about 16 billion rubles in dividends for the year, including interim and final dividends. It also raised spending on new rolling stock last year.

“Our business is gaining momentum, and we are on track to ensure high yields for shareholders. As we said last August, the group plans to pay a total of about 16 billion rubles in dividends for 2018, including an interim dividend of 8.2 billion rubles that the company has already paid,” Shpakov said as quoted by the company.

Globaltrans also said that it bought 847 cargo rail cars in 2018 in addition to 3,900 rail cars it planned to buy initially. In total, the company acquired 3,862 gondola wagons, 481 platforms, and 404 container wagons last year, which accounts for 8% of the company’s combined rolling stock and provides assets to ensure further growth of the company in 2019.

“We expect that the additional rolling stock we’ve bought will ensure further development of the group’s business in 2019, and plan to continue our policy of selective investment at favorable terms, ensuring attractive yields for our shareholders at the same time,” Shpakov said.

(67.00820 rubles – U.S. $1)

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