MOESK confirms plans to pay interim dividends for Jan–Sep

MOSCOW, Oct 16 (PRIME) -- Moscow United Electric Grid Company (MOESK), part of Russian power grid operator Rosseti, will pay dividends for January–September, the first interim dividends in the company’s history, CEO Pyotr Sinyutin told reporters on Wednesday.

“We confirm that, we received approval of shareholders, and we will submit payment for the nine months for consideration of the board of directors,” he said.

In September, the company said in a presentation that it planned to pay at least 50% of overall dividends for 2019 in dividends for January–September.

For 2018, MOESK paid 71.7% of the Russian Accounting Standards (RAS) profit, or 2.9 billion rubles (5.9 kopecks per common share) in dividends, an 87% increase on the year.

Rosseti owns 50.9% in MOESK, while managing company Lider owns 17.62%, Gazprombank has a 9.77% stake, and managing company Agana has 6.19%.

(64.2548 rubles – U.S. $1)

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