Segezha Group to start paying dividends twice per year in 2022

MOSCOW, Aug 27 (PRIME) -- Russian pulp and paper holding Segazha Group plans to pay dividends once in 2021 at the end of the year and to switch to paying dividends twice a year from 2022, Vice President for Finance and Investment Rovshan Aliyev said in a conference call on Friday.

“We will adhere to our dividend policy … and (dividends) will range from 3 billion rubles to 5.5 billion rubles. At the moment, it is clear for us that it will most likely amount to at least 5.5 billion rubles,” he said.

“This year it will be a single payment at the end of the year. Starting from next year, we will switch to semiannual dividends, which means that dividends will be paid twice a year.”

In April, the board of directors of Segezha Group approved a new dividend policy. The company should pay dividends at least once a year, and the dividend payment will range from 3 billion rubles to 5.5 billion rubles per year in 2021–2023. Starting from 2023, the company will pay dividends from its adjusted free cash flow.

Multi-Industry holding Sistema owns around 73.1% in Segezha.

(73.9908 rubles – U.S. $1)

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