Russian Grids may exclude some investments from dividend base

MOSCOW, Apr 6 (PRIME) -- Energy grid operator Russian Grids may exclude some investments from its dividend base and develop a new dividend calculation formula, Deputy CEO for Economy Oksana Shatokhina said during a conference call to discuss the company’s 2016 International Financial Reporting Standards (IFRS) results on Thursday.

“Russia’s Deputy Prime Minister Arkady Dvorkovich has authorized us to reconsider the dividend calculation rules, as our activities are regulated… exclude from the dividend base the investment done using the income and technological connection payments… as well as non-monetary financial investment revaluation,” she said.

She added that 25% of the remaining non-adjusted net profit under the Russian Accounting Standards (RAS) will be paid in dividends.

The issues will be discussed by the board and directors and the general meeting of shareholders and a decision will be made until the end of April, Shatokhina said.

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