IR Releases

22.05.2014

Board of Directors of JSC Lenenergo recommended to the General Shareholder Meeting to approve the decision on dividends payment for 2013 on ordinary and preferred shares

MICEX-RTS: LSNG/LSNGP

Credit rating:
Moody’s Ba2 (outlook stable)
Confirmed: February 2014

Press release

Board of Directors of JSC Lenenergo recommended to the General Shareholder Meeting to approve the decision on dividends payment for 2013 on ordinary and preferred shares.

At the meeting held on May 19, 2014 the Board of Directors of JSC Lenenergo approved the decision to recommend to the Annual General Shareholder Meeting of the Company to direct  25 % of net profit for 2013 fiscal year (on RAS) for dividends payment that constituted RUB 106.229 mln. 

The Board of Directors recommended to the General Shareholder Meeting to approve the decision:

·       to pay dividends on preferred shares of the Company by results of 2013 at a rate of RUB 0.4556 per one preferred share of the Company in a monetary form

·       to define that dividends payment on the Company’s ordinary shares by results of 2013 is made in the size calculated as follows (on the formula): the size of dividend (in rubles) per 1 ordinary share = 15 % from net profit of JSC Lenenergo for 2013 (according to data of the accounting reporting on the Russian accounting standards without income received from revaluation of financial investments) / actual number of placed ordinary shares of JSC Lenenergo for the date of drawing up of the list of persons having the right to receive dividends*

·       to determine the date of drawing up of the list of the persons having the right to receive dividends -July 11, 2014.

* the specified wording is due to the fact that at the moment of decision-making on recommendation about dividends payment for 2013 placement of ordinary registered non-documentary shares of additional issue of JSC Lenenergo (state registration number of the issue 1-01-00073-A-003D of September 10, 2013) is not complete.

Annual General Shareholder Meeting of JSC Lenenergo will be held on June 23, 2014 at: St. Petersburg, Startovaya St, 6, let. A, Hotel Crowne Plaza St. Petersburg Airport. Start of registration of the persons participating in the Annual General Shareholder Meeting – 11.00 a.m. The meeting start time – 12.00 p.m. Date of drawing up of the list of persons having the right to participate in the General Shareholder Meeting of the issuer - May 19, 2014.