Page 101 - RusRPTDec21

Medical Center", hereby informs that at a meeting on 29 November 2021, the Company’s Board of Directors recommended interim dividends for the six months ended 30 June 2021 be distributed in the amount of €38.4mn at a rate of €0.4269 per share. This recommendation is fully in line with the Company’s previously announced plans to pay out guaranteed dividends in the amount of €114mn in 2021.
● Other
Unipro's BoD has recommended that the upcoming EGSM approve an interim dividend payment for 9m21 of R0.19 per share, or a total payout of R12 bln. The EGSM is scheduled for December 6. According to Interfax, the dividend record date would be December 17.
Segezha's BoD has recommended paying RUB6.6bn, or RUB0.42/share,
for 9mo21 (3.9% DY). This is 20% above management's FY21 guidance during the IPO (and a higher border suggested by the dividend policy). The timing of the payment is to be given later. The company is also going to announce the FY21 dividend (in 1Q22, we believe). This means there could be some incremental payment for 2021, which also creates upside for the 2022 dividend, we believe. Supportive news for the stock, which we expect to react positively. 12-mo TP of RUB13.50 (ETR 27%) and Buy recommendation reiterated
Acron's BOD has recommended paying a RUB720/share interim dividend, which provides a 7.3% DY with a single payment. This implies c. $440mn total 2021 dividend vs. the target of at least USD 200mn, so the announcement has significantly exceed our expectations. Now we see at least an 11% NTM DY (2nd highest in the sector, following PhosAgro's 17% NTM DY). Moreover, the announcement creates an additional upside for the dividend in 2022. We expect an even stronger financial performance from Acron in 2022F (EBITDA to grow some 70% y/y). Record date is 14-Dec 2021, so the dividend will be paid by 7-Jan 2022, while most of it is to be distributed in 2021.
The European Medical Centre (United Medical Group CY PLC,) a leading provider of comprehensive premium medical services in Russia, operating under the brand "European Medical Center", hereby informs that a meeting of the company's Board of Directors to consider dividends distribution for the first half of 2021 will be held on November 29, 2021.
8.3.3 ECM news
Novatek purchased 1,566,103 shares and GDRs as part of its buyback
during the week of 15-19 November, the company announced yesterday, 22 November. Novatek spent c. $37.2mn on the shares, implying an average price of $238/GDR (-5% WoW). At the current pace of purchasing, we believe Novatek could reach the $600mn buyback limit within three weeks, which we see as more likely given the recent weakness in Novatek shares.
CBR cancels Depository Receipt limits on November 17. The CBR and the Justice Ministry announced the cancelation of Russian issuers' DR limits,
101 RUSSIA Country Report December 2021 www.intellinews.com