Russian railway group Globaltrans has suspended the payment of final dividends for last year. This is reported by the railway magazine Railway Supply with reference to.interfax.ru.

Globaltrans suspends dividend payments

“The payment of the final dividend for 2021 is temporarily suspended due to technical restrictions on withdrawing funds to a holding company in Cyprus, as well as in order to create liquidity reserves,” the company said.

It is also noted that the Board of Directors of Globaltrans recommended that shareholders at the upcoming meeting on April 26 approve a new program for the redemption of GDRs (global depository receipts – ed.) in the amount of up to 10% of share capital within the next 12 months from the date of the meeting.

At the same time, analysts predicted a decrease in the company’s net profit for 2021 by 12-17% (compared to the previous year), adjusted revenue will decrease by 4-7%, EBITDA – by 12-15%.

Globaltrans specializes in the rail transportation of metallurgical cargo, oil products, construction cargo and coal. The group’s fleet includes more than 70 thousand units of rolling stock (gondola cars and tanks, as well as tank containers).

As previously reported, Fitch downgraded the ratings of Russian Freight One, Globaltrans and Fesco.

Railway news you may have missed:

Railway communication with Belarus terminated

Find the latest news of the railway industry in Eastern Europe, the former Soviet Union and the rest of the world on our page on Facebook, Twitter, LinkedIn, read Railway Supply magazine online.





Place your ads on webportal and in Railway Supply magazine. Detailed information is in Railway Supply media kit