The Board of Directors of Rusagro recommended not to pay dividends for 2022
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The board of directors of Rusagro, an agricultural producer, has made a recommendation not to pay dividends for 2022, according to the company’s materials. The final decision will be made at the annual meeting of shareholders scheduled for March 31.
The dividend policy of Rusagro provides for the payment of dividends in the amount of at least 50% of net profit. Previously, the company paid them twice a year – based on the results of the first half of the year and the year. Interim dividends in 2021 amounted to $119.7 million, the final ones were not paid. The company made the decision due to uncertainty “in connection with the current situation regarding Russia and Ukraine.” The financial director of the company, Alexander Tarasov, on the eve of March 6, said during a conference call that Rusagro plans to restore the payment of dividends in the future, reports Interfax.
The London Stock Exchange suspended trading in Ros Agro PLC receipts in March 2022. In the summer, shareholders whose receipts were accounted for by NSD lost the opportunity to receive dividends and vote at the company’s shareholders’ meeting. Rusagro Group intends in 2023 leave London Stock Exchange and get a listing for global depository receipts on an exchange in another country.
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