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Posted On

20
September
2021

Enel Russia still planning to pay 3 bln rubles in 2021 dividends – CEO

MOSCOW. Sept 20 (Interfax) – Enel Russia is still planning to allocate 3 billion rubles for 2021 dividends, the company’s CEO, Stephane Zweguintzow, told journalists on the sidelines of a conference organized by the Council of Energy Producers.

"For the time being, our plans remain unchanged," Zweguintzow said when asked by journalists about plans to pay 2021 dividends, adding that the final decision will be made by the company’s shareholders.

In 2020, Enel Russia fixed dividend payments for 2020-2022 at 3 billion rubles per year. This amount was paid to shareholders in 2020. But during Strategy Day in February 2021, the company’s management announced that 2021 payments would be postponed until 2023.

"After passing the pivotal year of 2021, a period of strategic repositioning and earnings volatility, we plan to distribute a dividend of 3 billion rubles in 2021 dividends in 2022 and about 5.2 billion rubles in 2023, which includes 65% of 2022 net profit and fixed dividends of 3 billion rubles carried over from 2021, resulting in a dividend per share of nearly 0.15 rubles," the company said.

In 2019, Enel Russia sold its largest asset, the coal-fired Reftinskaya GRES, which provided nearly half of the company’s revenue.

Enel Russia currently includes three gas-fired power plants – Konakovskaya GRES, Nevinnomysskaya GRES, and Sredneuralskaya GRES – as well as wind farms under construction in the Murmansk and Rostov regions and the Stavropol Territory.

The main shareholder of Enel Russia is Italy’s Enel S.p.A. with a 56.43% stake