SIBUR shareholders approve payment of 25% of IFRS net profit as dividend for H1 2013

OAO SIBUR Holding shareholders approved dividends for the first half of 2013 at the Extraordinary General Shareholders Meeting held on 25 October 2013.

Dividends will be paid in the amount of RR 2.93 per share. Total dividend payment will be RR 6,382,943,763, equivalent to 25% of the company’s net profit under International Financial Reporting standards (IFRS). The company paid dividends of RR 3.4 per share for the first half of  2012.

SIBUR’s dividend policy targets dividend pay-out ratio of approximately 25% of consolidated net profit under IFRS. For Reference:SIBUR is a uniquely positioned vertically integrated gas processing and petrochemicals company. SIBUR owns and operates Russia’s largest gas processing business in terms of associated petroleum gas processing volumes and is a leader in the Russian petrochemicals industry.

As of 30 June 2013, SIBUR operated 27 production sites across Russia and employed more than 28,000 personnel. The Group serves over 1,500 large customers operating in the energy, automotive, construction, fast moving consumer goods (FMCG), chemical and other industries in approximately 60 countries.

Source: SIBUR