NCSP suspends payment of HI’2016 dividends for risk minimization

For risk minimization and compliance with RF legislation requirements NCSP Group suspends payment of dividends for HI’2016 until elimination of circumstances preventing from execution obligations on payment of dividends, says press center of NCSP   Group.

The period set by the general meeting of NCSP shareholders for payment of dividends to nominees  expired on 28.09.2016.

Payment of dividends to other shareholders should be completed by October 18, 2016.

NCSP and VTB Bank are working on the approval of additional agreement to change the restrictions set forth by their credit contract and make all the efforts to sign it in the nearest future.

The dividends will be paid upon signing the agreement till October 8, 2016.
 
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP Group cargo turnover in 2015 totalled 139.7 million tonnes. Consolidated revenue to IFRS in 2014 totalled USD 956 million and EBITDA was USD 569 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.