Date: a month ago   Category: Energy

RusHydro will begin to direct to dividends not less than 50% of net profit according to IFRS — Rambler News Service


The board of directors of RusHydro approved new edition of provision on dividend policy according to which the company will direct to dividends not less than 50% of net profit according to the International Financial Reporting Standards (IFRS), it is said in the statement of RusHydro. "The board of directors of RusHydro approved the provision on dividend policy in the new edition, having supported offers of management on change of a method of calculation of dividends", - it is said in the statement. The company explains that the new provision on dividend policy provides that the basic scenario for payment of dividends is payment of 50% of the size of the profit presented in the consolidated financial statements prepared according to IFRS. At the same time the minimum (threshold) volume of dividends determined as average value of the sum of dividends for the previous three years is established. Period of validity of situation – three years. According to former edition of situation the minimum amount of dividends was 5% of the profit of RusHydro according to International Financial Reporting Standards.

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