JSC RUSNANO’s Board of Directors Recommended Paying out RUB 550 mln in Dividends Based on 2018 Results
On 21 June, during the JSC RUSNANO annual general meeting, the company’s Board of Directors proposed, based on 2018 financial results, to pay out RUB 550 mln in dividends, which accounted for 61.64% of its net profits (calculated in accordance with the Russian Accounting Standards, RAS) for last year. The participants of the JSC RUSNANO annual shareholders’ meeting will make a decision with respect to the dividend pay-out by the end of June.
According to FY 2018 RAS financial results, JSC RUSNANO’s net income was equivalent to RUB 892.2 mln.
For the first time JSC RUSNANO paid dividends, amounting to RUB 537.5 mln, based on its 2017 financial results, which then accounted for 50% of the company’s net profits (according to RAS) for 2017.
The state owns 100% of JSC RUSNANO’s shares.
RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 103 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 5 years.
Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.
Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.