Official: T Plus can start to pay divs after consumer debt halves

ORSK, Orenburg Region, Aug 2 (PRIME) -- Russian power utility T Plus, earlier known as Territorial Generating Company-7 (TGC-7), can start to pay dividends after accounts payable of its consumers at least halve from the current 65 billion rubles, acting CEO Denis Pasler told reporters on Wednesday.

“The debt is about 65 billion rubles. If they paid at least half of this debt to us, we could pay dividends maybe, of course. Taking into account the existing debt to the company, this is barely possible,” Pasler said.

He also said that the goal of T Plus is to stabilize rather than reduce overdue consumer debt in 2017. The company uses ‘traditional means’ of debt reclaiming, such as courts, restrictions and fines, Pasler said.

(59.8454 rubles – U.S. $1)

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