ChelPipe Group to Direct RUB 3 Billion to Dividend Payments

26 November 2019 (09:12)

UrBC, Yekaterinburg, November 25, 2019. Chelyabinsk Pipe Rolling Plant (ChelPipe) intends to direct RUB 1.66 billion out of its net profit in the nine months of 2019, as well as a portion of undistributed net profit from the previous years (RUB 1.33 billion), to interim dividend payments.

According to ChelPipe Group’s press service, the decision was made by the company’s Board of Directors.

It was suggested that the dividends should amount to RUB 5.45 per ordinary share for January-September 2019 and to RUB 4.37 for the previous years’s dividends.

‘ChelPipe’s financial performance in the nine months of 2019 makes it possible to direct our profit to dividend payments. In the future, the company plans to consider a twice-yearly payment policy, which is seen as good corporate practice,’ says Director for Finance & Economic Issues at ChelPipe Group Valeriy Borissov.

The shareholders’ EGM has been scheduled for December 27, 2019.

Other materials on the topic::