15th Mar 2018 07:57
EN+ GROUP PLC ANNOUNCES INTERIM DIVIDEND
15 March 2018 - EN+ GROUP PLC (the "Company", "the Group" or "En+ Group") (LSE: ENPL; MOEX: ENPL), a leading international vertically integrated aluminium and power producer, today announces that the Board of Directors of the Group has approved on a meeting on the 14th of March 2018 an additional interim dividend in the total amount of USD 68 million or USD 0.1190 per ordinary share/global depository receipt ("GDR"), in respect of the year ending 31 December 2017, which will be paid to holders of ordinary shares/GDRs registered at the close of business on 21 March 2018, and is expected to be paid by no later than 28 March 2018. The Company's GDRs are expected to be marked ex dividend on 20 March 2018.
In 2Q 2017 En+ Group adopted a new dividend policy[1] which implies the payment on at least a semi-annual basis of dividends which will be equal to the sum of:
· 75% of Free Cash Flow of the Energy segment, subject to a minimum of USD 250 million per annum; and
· 100% of dividends received from UC RUSAL[2]
Dividends to be paid for 2017 from the Energy segment will amount to USD 250 million (including USD 68 million declared today). Dividends from UC RUSAL for 2017 amounted USD 144 million. The Company does not plan to pay any further dividends in respect of 2017.
Therefore, total dividends payments for 2017 will amount to USD 394 million, the overall dividend payments since IPO will amount to USD 193 million in total.
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For further information, please visit http://enplus.ru or contact:
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Andrey Petrushinin Ignatiy Pavlov Tel: +7 495 642 79 37 Email: [email protected] | Daria Fadeeva
Tel: +7 (495) 642 7937 Email: [email protected]
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About En+ Group plc
En+ Group is a leading international vertically integrated aluminium and hydro power producer. The Company combines power plants with a total installed capacity of 19.7 GW (including 15.1 GW of hydro power assets), and 3.9 mt of annual aluminium production capacity (through a controlling stake in UC RUSAL plc, the world's largest aluminium producer outside of China in 2016) which is the major consumer of En+ Group's hydroelectricity.
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This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.
[1] Any future decision to declare and pay dividends will be subject to applicable law and commercial considerations.
[2] UC Rusal dividend policy: annual payout of up to 15% of Covenant EBITDA subject to compliance with relevant regulation and loan agreements. Covenant EBITDA is defined as UC Rusal EBITDA on LTM basis as defined in the relevant credit agreements, adding dividends declared by Norilsk Nickel and attributable to the shares owned by UC Rusal.
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