Moscow, 10 March 2021. SIBUR's Board of Directors has approved a new Regulation on Dividend Policy increasing the minimum dividend payout ratio from 35% to 50% of adjusted net profit under IFRS. The new policy applies to reporting periods starting from 1 July 2020.
The policy matches the industry average global benchmarks of major petrochemical businesses, with the new ratio reflecting the company’s expected deleveraging on the heels of ZapSibNeftekhim’s successful ramp-up and Amur GCC’s kick-off by our joint venture with Sinopec. The dividend policy perfectly fits SIBUR’s plans to make and finance ongoing and future investments.
Dmitry Konov, Chairman of the Management Board at SIBUR Holding:
"In recent years, SIBUR has been heavily investing in building up the company’s petrochemical business. With new capacity now on stream, we have boosted the output of high value-added petrochemical products, managing to generate cash flow and deleverage even in the turbulent global market environment. This in turn enabled us to raise dividend payouts while sticking to the schedule of our long-term investment programme featuring Amur GCC as its flagship project."
International Media Relations