Source: Rosseti to present new dividend policy in Jan–Mar 2019

MOSCOW, Dec 3 (PRIME) -- Russian state power grid holding Rosseti will present a new dividend policy and a long-term strategy in January–March 2019, a market source told PRIME on Monday.

The dividend policy should be “transparent and understandable for investors, while keeping its ties to the dividend flow they receive from subsidiary and affiliate companies,” the source said, adding that the new strategy should include digitalization and a vision of “an optimal corporate structure.”

Rosseti did not pay dividends for 2013–2015 and 2017, but paid 1.79 billion rubles for January–March 2016 and 3.785 billion rubles for 2016. Earlier this year, the company paid 1.1965 kopeck per common share and 4.287 kopecks per preferred share, or a total of 2.468 billion rubles, in dividends for January–March.

Pavel Grebtsov, director of the company’s tariff policy department, said in August that Rosseti may pay dividends for January–September, driving the combined dividend payout in 2018 to about 5 billion rubles.

The Federal State Property Management Agency owns an 88.04% stake in Rosseti.

(66.5335 rubles – U.S. $1)

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