Mostotrest Board Recommends Dividend for 9m 2017
The Board of Directors of PJSC Mostotrest (hereinafter - Mostotrest or the Company) at a meeting on November 3, 2017 decided to convene an extraordinary shareholders' meeting of the Company to consider an interim dividend payment.
The Extraordinary General Shareholders' Meeting of Mostotrest will be held on December 8, 2017. The meeting record date is November 14, 2017.
Based on 9M 2017 RAS results, the Board of Directors recommends the General Shareholders’ Meeting to approve a dividend on ordinary shares of RUB8.45 per ordinary share. The total amount of dividend payment proposed by the Board of Directors for approval by the General Shareholders' Meeting is RUB2,384,720,975. The recommended dividend record date is December 19, 2017.
According to the results for the reporting period, Mostotrest net profit under RAS was more than RUB9 billion. Despite the fact that IFRS results may differ from those under RAS, an exceptionally strong profit allowed the Board to recommend interim dividends for the first time in the Company's history.
NOTES TO EDITORS
PJSC Mostotrest is the largest diversified company in the field of infrastructure construction, with a presence across all key and related market segments, and a participant in pioneering public-private partnership projects in Russia. According to the EMBS Group, an independent industry consultancy, Mostotrest 2016 share of the Russian transport infrastructure construction market was 14.6%.
The Mostotrest Group key business segments include construction and reconstruction of bridges (including road, railway and city bridges), highways and other transport infrastructure, as well as road repair and maintenance services. In 2012, the Group diversified into a new business segment of road concession management.
The Company was established in 1930 for the construction of special and extra-large bridges.
Currently, Mostotrest is involved in a number of complex integrated transport infrastructure development projects, such as construction of several segments of the M-11 “Moscow – St. Petersburg” Highway, construction and reconstruction of segments of the M-4 УDonФ Highway, and construction of the Kerch Strait Bridge.
For more detailed Company information, please visit www.mostotrest.ru