PJSC 'Novorossiysk Commercial Sea Port' (NCSP)
PJSC 'Novorossiysk Commercial Sea Port': The Board of Directors of NCSP
Group recommended to send 98% of net profit for 2018 to dividends
22-May-2019 / 21:26 MSK
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer / publisher is solely responsible for the content of this
announcement.
Press Release
The Board of Directors of NCSP Group recommended to send 98% of net profit
for 2018 to dividends
May 22, 2019
NCSP Group (LSE: NCSP, MOEX: NMTP) hereby announces that on May 21, the
Board of Directors of PJSC NCSP, which includes representatives of the
controlling shareholder, PJSC Transneft, as well as the Russian Federation
and the Company's management, decided to recommend to the Annual General
Meeting of shareholders of PJSC "NCSP" to additionally pay dividends for the
results of 2018 in the amount of 9,629,907,700 (Nine billion six hundred
twenty-nine million nine hundred seven thousand seven hundred) rubles 00
kopecks.
The Board of Directors took the following decisions on May 21, 2019:
1) To recommend to the AGM to pay dividends as stated above.
2) To distribute the net profit received in 2018 in the amount of
15,063,349,449 (Fifteen billion sixty-three million three hundred
forty-nine thousand four hundred forty-nine) rubles 40 kopecks, as
follows:
a) Direct a dividend payout of 14,829,906,617 (fourteen billion eight
hundred twenty nine million nine hundred six thousand eight hundred
seventeen) rubles 92 kopecks (including part of the profit of
5,199,999,117 (five billion one hundred ninety nine million nine hundred
ninety nine thousand one hundred and seventeen) rubles 92 kopecks paid
as dividends for the first half of the year and nine months of 2018).
3) To determine the size of the dividend per share 0.5 rubles.
4) To set June 25, 2019 as the date on which the persons entitled to
receive dividends are determined.
5) To pay dividends to nominal holders registered in the share register
and to professional participant in the securities market to a trustee in
the period from July 1, 2019 to July 9, 2019 inclusive and to other
persons registered in the share register in the period from July 1, 2019
to July 30, 2019 inclusive.
6) To approve forms and texts of voting bulletins and drafts of electronic
messages for nominee shareholders for AGM.
If shareholders of PJSC NCSP follow the Board of Directors' recommendations
when making their decision, the total dividends for 2018 (taking into
account the interim dividends in the amount of RUB 5,199,999,117.92 paid
earlier for 6 and 9 months) will totaled RUB 14,829,906,817.92.
In 2018, the PJSC NCSP net revenue as per RAS amounted to RUB
15,063,349,449.40. With regard to the results of the previous year, it is
proposed to allocate to dividends 98.4% of the Company's net revenue as per
RAS, which will be the record value of this indicator for PJSC NCSP. In 2017
and 2016, 32.5% and 61.4% of net profit as per RAS were allocated to
dividends, respectively. At the end of 2015 no dividends were paid.
According to analysts, PJSC NCSP's shares may enter the top ten leaders in
terms of dividend yield in Russia in the summer of 2019.
The Annual General Meeting of Shareholders of PJSC NCSP will be held in
Novorossiysk on June 14, 2019. For the notice of basic fact "On Respective
Resolutions Adopted by the Issuer's Board of Directors (Supervisory Board)",
see the PJSC NCSP website at
http://www.nmtp.info/holding/investors/info_disclosure/basic_fact/ [1].
NCSP Group is the largest port operator in Russia by cargo turnover. PJSC
Transneft is the controlling shareholder (62%) of PJSC NSCP.
NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as
GDRs (NCSP). NCSP Group volumes in 2018 totaled 140.2 million tons. NCSP
Group consists of: PJSC NSCP, LLC Primorsk Trade Port, JSC Novorossiysk Ship
Repair Yard, JSC NCSP Fleet, JSC NLE, LLC IPP, Baltic Stevedore Company LLC
and LLC SFP.
For more information, please contact:
For press: MSidorov@ncsp.com
For investors: IR@ncsp.com
ISIN: US67011U2087
Category Code: MSCH
TIDM: NCSP
LEI Code: LEIA0010014976
Sequence No.: 8752
EQS News ID: 814895
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=03a0678b77d4ad1c8c5194052abc6d45&application_id=814895&site_id=vwd&application_name=news
(END) Dow Jones Newswires
May 22, 2019 14:26 ET (18:26 GMT)
