Record dividend of Unipro

Electricity generation belongs to the protective sectors, including due to high dividend payments.

For six months, Unipro’s revenue increased to 42.1 billion rubles, which is 12.1% more than last year. EBITDA grew by 10.3% YoY to 14.4 billion, and net adjusted profit by 5.9% to 8.6 billion. the third block of the Berezovskaya GRES.

Stock quotes reacted very positively to the management’s forecast, which removed the uncertainty over the dividend issue. Until today, it was not clear whether Unipro will send 20 billion for payment this year or not. In the first half of the year, they paid 8 billion, so in the second they should send 12 billion.However, investors treated management with distrust and pledged payments in the range of 10-12 billion.

Today, it was announced that in the second half of the year they will send 12 billion. Moreover, zero debt allows the company to pay 20 billion in dividends next year and in a year.

The forecast for EBITDA was also slightly increased: in 2021 from 25-28 billion to 26-28 billion, and for 2022 the forecast was kept at the level of 33-37 billion.

At the moment, the business attracts with high dividend yield and low historical volatility of quotations. It is likely that by the end of the year the quotes may grow up to 3.2-3.5 kopecks against dividends, which gives an upside of 13-23% for the half-year from the current ones.

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