OREANDA-NEWS. May 06, 2010. Mosenergo’s BoD (RTS: MSNG) recommended a total dividend payout for 2009 at RUB 500 mn, which translates into a dividend of RUB 0.0126 per share. Mosenergo finished 2009 with a net profit of RUB 4.5 bn. An AGM is to be called on June 16. The record date is due on May 6.

The payout planned is unlikely to arouse interest from minority shareholders, given the potential dividend yield of just 0.4%. However, the decision made shows that the board is following up on an earlier voiced intention to adopt a dividend policy that would be attractive for minority shareholders. This in turn testifies to the improved corporate governance. Even though the dividend yield is expected to be low, the company intends to earmark over 11% of net income for the purpose. Over time, Mosenergo shares may become an attractive source of dividends, as net income is estimated to increase at a fast pace.