RusHydro expects record dividends of 23.3 bln rbl for 2020

MOSCOW, Mar 2 (PRIME) -- Russian hydropower giant RusHydro expects record dividends of 23.3 billion rubles to be paid for 2020, the company said in a presentation published on Tuesday.

“An all-time high payout in the company’s history expected for 2020 (of around) 23.3 billion rubles,” the presentation read.

The years of 2021 and 2022 will be free from any impairments, this is why the target dividend payout exceeds 20 billion rubles per year in the period, the company said.

“The current dividend policy will be reviewed by the board of directors in 2021,” RusHydro said, adding that the board may prolong the policy.

RusHydro’s shareholders previously approved paying 0.03568039 rubles per share, or around 15.67 billion rubles, in dividends for 2019.

The Russian government owns 61.73% in RusHydro, while the country’s second largest bank VTB has 12.95%, and LLC Avitrans has 5.31%. The free-float is 19%.

In 2019, the company approved a new dividend policy, which envisages paying 50% of the International Financial Reporting Standards (IFRS) net profit, but no less than a 3-year average, in dividends.

(74.0448 rubles – U.S. $1)

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