Russia’s ChelPipe may pay 2.5 bln rbl in final dividends for 2019

MOSCOW, May 6 (PRIME) -- The board of directors of Russia’s Chelyabinsk Pipe Rolling Plant (ChelPipe) has recommended paying 8.18 rubles per ordinary share, or a total of 2.5 billion rubles in final dividends for 2019, the company said in a statement on Wednesday.

The record date for the dividends is June 15.

In February, the board of directors approved a new dividend policy that foresees the company paying dividends at least twice a year. The company also defined the minimum dividend payments in 2020 and in 2021 at no less than 7.5 billion rubles per year.

The core shareholders of the company are Chairman of the Board of Directors Andrei Komarov with a 77.26% stake and Pavel Fyodorov with 10.67%.

(72.7263 rubles – U.S. $1)

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