MOSCOW (MRC) - The board of directors of SIBUR Holding recommended that the annual meeting of shareholders send 34.333 billion rubles to dividends for 2019, the company said.
"Direct 34.3 billion rubles for dividends to shareholders of PJSC SIBUR Holding based on the results of 2019. Taking into account the previously paid dividends for the six months of the reporting year 2019 in the amount of 16.7 billion rubles, pay dividends in cash in the amount of 8.06 rubles per ordinary share, which is 17.5 billion rubles. ", - said in a statement. The board of directors also determined the date of the annual meeting of shareholders - April 2.
At a press conference in February, the Chairman of the Board of SIBUR Holding Dmitry Konov told reporters that SIBUR will adhere to the dividend policy regarding the payment of dividends for 2019, which implies payment of at least 35% of adjusted earnings under IFRS. Also, according to the chairman of the board, ZapSibNeftekhim is increasing production volumes: 200 thousand tons of polypropylene per year will be sent to the domestic market, up to 300 thousand tons of polypropylene will be exported.
At the same time, the Holding does not consider the possibility of an IPO (initial public offering) in 2020 against the background of the current market situation. The shareholders do plan to carry out this operation, but there is no point in doing it this year, ”said Dmitry Konov, chairman of the company’s board, earlier.
He stressed that we are talking about reducing the cost of petrochemical products caused by tensions in US-China trade relations. In addition, there is uncertainty in the market due to the spread of coronavirus in China. The possibility of the initial placement of the company's securities became known back in July 2018.
It was previously reported that SIBUR's net profit to RAS standards amounted to 111.911 billion rubles, an increase of 3.2%. Revenue decreased by 4.8% to 462.95 billion rubles. Last year, the company received revenue under IFRS in the amount of 531.3 billion rubles. Net profit grew by 27.6% to 141.4 billion rubles.
SIBUR is a vertically integrated gas processing and petrochemical company, operating at 26 production sites located in various regions of the Russian Federation. SIBUR sells products to more than 1.4 thousand consumers in the fuel and energy complex, the automotive industry, construction, production of consumer goods, chemical and other industries in 75 countries of the world.
MRC