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Sovcomflot shares up over 6% on Moscow Exchange

Earlier, Sovcomflot said that it maintained the policy on payment of dividends in the amount of at least 50% of net profit under IFRS

MOSCOW, March 20. /TASS/. The price of Sovcomflot shares rose by 6.43% to 61.4 rubles per share during Monday trading on Moscow Exchange, according to trading data as of 12:10 p.m. Moscow time. The price of shares rose after the publication of the company’s financial results under International Financial Reporting Standards (IFRS) for 2022.

As of 12:25 p.m. Moscow time, Sovcomflot shares narrowed gains to 4.39% trading at 60.22 rubles per share.

Earlier, Sovcomflot said that it maintained the policy on payment of dividends in the amount of at least 50% of net profit under IFRS. Net profit of the company under IFRS soared more than ten-fold in 2022 compared with 2021 to $385.2 bln.

Sovcomflot Group is one of the world's leading energy shipping companies, focusing on the transportation of liquefied gas, crude oil, and petroleum products, as well as the servicing of offshore upstream energy production.