TransContainer’s directors fail to recommend dividends for 2016

MOSCOW, May 17 (PRIME) -- The board of directors of leading Russian railway container operator TransContainer has failed to recommend a dividend payout for 2016 on Wednesday, a company representative told PRIME.

“The decision has not been made. The board of directors will return to the issue of distribution of the net profit and of dividend payment later,” the representative said.

In June 2016, the TransContainer shareholders decided against paying dividends for 2015, but later, at an extraordinary general meeting, approved paying 4.83 billion rubles, including 1.33 billion rubles in dividends for January–June 2016 and dividends using undisbursed profit of previous years.

United Transport Logistics Company of Russia, Belarus, and Kazakhstan owns 50% plus two shares in TransContainer, but Russian Railways earlier said it plans to get the stake back. Far Eastern Shipping Company (FESCO), part of Summa Group, owns 25.07%, and private pension fund Blagosostoyanie has 24.5%.

(56.2603 rubles – U.S. $1)

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