Interpipe pays $ 40 mln in dividends in March 2021

The Interpipe international vertically integrated pipe and wheel company paid dividends to the shareholders in the amount of $ 40 million in March this year, according to its 2020 annual report.

"In March 2021 after the date of the final repayment (Interpipe on January 26, 2021 fully repurchased eurobonds with maturity in 2024 for a total of $ 309.192 million), which led to lifting restriction on the payment of dividends, the company announced and paid dividends in the amount of $ 40 million," the report says.

The company clarified in it that it did not declare or pay dividends in 2019 and 2020.

As reported, Interpipe in 2020 reduced its net profit by 4.2 times compared to the previous year, to $ 195.12 million with a decrease in revenue by 22.9%, to $ 865.13 million, while operating profit increased by 2.6 times, to $ 212.8 million, and EBITDA by 6%, to $ 273 million.

Interpipe is a Ukrainian industrial company, a manufacturer of seamless pipes and railway wheels. The company's products are supplied to more than 80 countries around the world through a network of sales offices located in the key markets of the CIS, the Middle East, North America and Europe.

Source: www.en.interfax.com.ua