RusHydro’s directors to mull new dividend policy on April 19

MOSCOW, Apr 10 (PRIME) -- The board of directors of Russian hydropower giant RusHydro will meet on April 19 to discuss a new dividend policy, RusHydro said in a statement on Wednesday.

Previously, the company said in a presentation that the management board would suggest setting a minimum dividend payment at the level of an average annual dividend payout for three previous years, and that the policy should be in force for three years after approval.

The company paid 50% of its net profit calculated under International Financial Reporting Standards (IFRS) in dividends for 2016 and 2017, and it plans to pay the same level for 2018.

The government is the controlling shareholder in RusHydro with a 60.6% stake, while VTB Bank owns 13.3%, Aviatrans owns 6%, and other shareholders control 20.1%.

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