Zakhidenergo pays 30% of 2013 income as dividends

Обзоры по компаниям и отраслям 25.04.2014 Shareholders of power GenCo DTEK Zakhidenergo (ZAEN UK) voted to distribute UAH 174 mln, or 30% of the company’s 2013 bottom line, as dividends. This payout implies a UAH 13.57 DPS and a dividend yield of 10.0%. Alexander Paraschiy: With this move, the main shareholder of Zakhidenergo ignored the earlier issued government decree which stipulated that companies with a state’s stake should pay 50% of income as dividends (refer to our news of April 23). This means that DTEK Dniproenergo (DNEN UK) is very likely to pay out 30% dividends as well (its AGM is scheduled for April 28). At the same time, we continue to believe that the new majority shareholder of Donbasenergo (DOEN UK) and the government as a shareholder of Centrenergo (CEEN UK) will not ignore the government’s resolution on higher dividend payouts this season.