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The Board of Directors of Rusagro recommended not to pay semi-annual dividends

The Board of Directors of Rusagro, one of the largest Russian sugar producers, meat and oil and fat products, recommended not to pay dividends for the first half of 2022. This decision was made by the Board of Directors of the company following the meeting on August 5. This was reported on the company’s website.

In March, the Board of Directors decided to cancel the unpaid dividends for the full year 2021. In April, the shareholders of Rusagro at the annual general meeting decided not to pay dividends for 2021. In September 2021, the company paid an interim dividend of $119.7 million, with a final dividend of $137.2 million.

Rusagro shareholders approved a possible delisting from the London Stock Exchange Rusagro , Agroprom , Delisting , LSE , Depository receipt

The Board of Directors of Rusagro recommended not to pay semi-annual dividends1

Rusagro Group also published financial results under IFRS for half a year. The company’s revenue in the first half of the year increased by 22% compared to the same period in 2021, to ₽127.2 billion. Adjusted EBITDA increased by 36%, to ₽30.2 billion. Net profit decreased by 99%, to ₽166 million. Net debt as of June 30, 2022 amounted to ₽98.97 billion.

Rusagro is one of the largest producers of sugar, meat and oil and fat products in Russia. The company controls one of the largest land banks among Russian agricultural producers. Lands with an area of ​​642 thousand hectares managed by Rusagro are located in the black earth region of Russia (in the Belgorod, Tambov, Voronezh, Kursk, Oryol regions) and in the Far East in Primorye. The company is one of the largest producers of sugar beets. The group also produces wheat and corn, sunflower and soybeans.

Dividends are the portion of profits or free cash flow (FCF) that a company pays out to shareholders. The payout amount depends on the dividend policy. Their periodicity is also spelled out there – once a year, every half year or quarter. There are companies that do not pay dividends, but direct profits to business development or simply do not have the opportunity due to poor results. Shares of dividend companies are most often of interest to investors who want to achieve financial independence or secure a decent standard of living in retirement. With the help of dividends, they create a source of passive income for themselves. More

Source: RBC

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