Russian Aquaculture’s Board of Directors advises to pay dividends

April 28, 2021 00:52

The Board of Directors of Russian Aquaculture Company (RA), the leading salmonids producer, has recommended to the General Meeting of Shareholders to make a decision on the payment of dividends, reports Megafishnet.com.

According to RA, the Board of Directors of PJSC Russian Aquaculture (MOEX: AQUA), the largest Russian company in the commercial fish farming (aquaculture) sector, has scheduled an annual General Meeting of Shareholders for June 30, 2021 and recommended that the Company's net profit for 2020 be distributed and that a dividend of RUB 5.00 per ordinary share be paid.

Based on the recommendations, the total amount of dividends to be paid based on the results of 2020 may amount to 439.4 million rubles (ca. $5.9 million).

The closing date of the register of shareholders entitled to participate in the Annual General Meeting of Shareholders is June 05, 2021. The Board of Directors has recommended setting the date for determining the persons entitled to receive dividends as July 11, 2021.

PJSC "Russian Aquaculture" is the management Company of the Group known as the leader in the segment of Atlantic salmon and rainbow trout production in Russia.

The key activities of the Group under RA’s management include:

* commercial cultivation of Atlantic salmon in the Barents Sea in the Murmansk region

* commercial trout farming in the lakes of the Republic of Karelia in the North of Russia

Currently, the Group under the management of the RA owns the rights to 37 sites for the cultivation of salmon and trout. The total volume of potential cultivation in these areas is estimated at about 50 thousand tons of salmonids.

The development of aquaculture is a strategic direction for RA. The Company's long-term development strategy involves the creation of the largest vertically integrated player in the aquaculture segment, including its own production of feed and fry, primary processing and distribution of its own products.

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