The Board of Directors of PJSC Nizhnekamskneftekhim (TAIF) recommended shareholders not to declare and not pay dividends for 2017, informs Devon.

The annual meeting of shareholders will be held on June 20. The register of shareholders for participation in it will be compiled according to the data as of May 28.

The Board of Directors also announced that according to the results of 2017, according to the group of companies, NKNK received 162.1 billion rubles. proceeds from the sale of products. Over the past year, 36.6 thousand tons of rubber were sold, totaling 702 thousand tons.

Following the results of 2016, the shareholders of NKNK decided not to pay dividends. The bulk of net profit under RAS (20.1 billion rubles) remained undistributed. Another 5 billion rubles were spent on financing in 2017 a strategic development program. Since 2006, the company sent 30% of its net profit under RAS to pay dividends.

The Director General of the TAIF Group, Albert Shigabutdinov, explained that NKNK refrained from paying dividends for 2016 in connection with the implementation of the project to build a new ethylene complex with a capacity of 600 thousand tons per year.

Nizhnekamskneftekhim in 2017 received a net profit of 23.703 billion rubles, which is 5.4% less than in the previous year.

PSC “TAIF” owns 19.58% of the shares of “Nizhnekamskneftekhim”, its “daughter” LLC
“Telecom-Management” – 55.82%.

PJSC Nizhnekamskneftekhim (NKNKh) is one of the largest Russian producers of petrochemical products. The production complex of the company includes ten factories of the main production and ten departments (railway transport, main ethylene conductors, etc.). NKNK produces more than 120 kinds of chemical products, including synthetic rubber, polyethylene, polypropylene, polystyrene, surfactants. Nizhnekamskneftekhim is included in the “TAIF” Group of Companies.