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SIBUR to pay dividends for year 2020 at Rb13.17 per share

April 19/2021

MOSCOW (MRC) -- The shareholders of SIBUR, the largest petrochemical holding in Russia and Eastern Europe, at the annual general meeting of April 13, approved the payment of the final dividends for 2020 in the amount of Rb28.69 billion, the company said.

Thus, dividends will be paid at the rate of Rb13.17 per share.

At the same time, taking into account the previously paid dividends for the first half of 2020 in the amount of Rb12.482 billion. the total amount of dividends for the last year will be about Rb41.17 billion, at the rate of Rb18.9  per one ordinary share.

"Thus, 35% of the adjusted IFRS net profit for the first half of 2020 is directed to dividends and, in line with the  newly adopted dividend policy, 50% of the adjusted IFRS net income - for the second half of 2020," SIBUR emphasizes.

The date on which the list of shareholders entitled to receive dividends is drawn up is April 19.

As MRC reported earlier, in March, 2021, SIBUR made changes to its dividend policy. The company raised the minimum dividend payout to 50% from 35% of the adjusted net income in accordance with International Financial Reporting Standards (IFRS). The new policy will begin to apply from reporting periods beginning July 1, 2020.

We remind that SIBUR Holding's revenue decreased by 1.6% last year and to Rb523 billion. At the same time, SIBUR increased EBITDA to Rb179 billion, up by 5.4% year on year.

We also remind that in December 2020, SIBUR Holding chose Spheripol LyondellBasell polyolefin technology for its Amur Gas Chemical Complex (AGHK), which is under construction. The technological process will be used at a polypropylene (PP) plant with a capacity of 400,000 mt/year, which will be built in the town of Svobodny, Amur Region.

According to MRC's ScanPlast, Russia's overall PP production increased by 31% year on year in 2020, totalling about 1,883,000 tonnes. The main increase in production was provided by ZapSibNeftekhim.

SIBUR is the largest vertically integrated gas processing and petrochemical company in Russia, uniting a number of production sites in various regions of the Russian Federation. The company sells products to consumers in the fuel and energy complex, automotive, construction, consumer goods, chemical and other industries in more than 80 countries around the world.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, petrochemistry, Sibur Holding, LyondellBasell, Amurskiy GHK, ZapSibNeftekhim, Russia.
Category:General News
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