Page 111 - RusRPTJun21

M.Video-Eldorado Group, Russia's leading consumer electronics retailer, announces that the Company’s Annual General Meeting of Shareholders has approved a dividend payment of RUB6,831,192,626, or RUB38 per ordinary share. The dividend record date has been set as May 18, 2021. Taken together with the interim dividend of RUB5.4bn for the six months ended June 30, 2020, total dividends for FY 2020 will amount to RUB12.2bn (RUB68 per ordinary share), or 100% of the Company’s 2020 adjusted net profit under IAS 17. The dividend payment approved by the AGM is fully in line with the Company’s new dividend policy, according to which M.Video plans to pay semi-annual dividends equal to at least 100% of its adjusted net profit under IAS 17. The dividend policy is a key element of the Company’s growth strategy, which aims to double the size of its business by 2025.
Detsky Mir has held an AGM, which approved the 4Q20 final dividend of RUB 6.07/share (RUB 4.5bn), implying a 4% yield and a 100% RAS payment. The record date was set at 11 July. The company's CEO also announced that April-May sales increased 58.7% YoY.
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TMT
Rostelecom executives have proposed not paying out dividends for 2020,
and the company’s BoD is set to discuss the idea today. At the same time, the company's position has not yet been coordinated with Russia’s Federal Property Management Agency or Ministry of Finance, Kommersant reported. The reason cited for the proposal is the high cost of building power grids for the company’s Eastern Polygon (BAM and Transsib).
Rostelecom ’s BoD recommended a dividend of RUB 5/share for both ords and prefs. The company will pay out a total of RUB 17.5bn, or 77% of 2020 FCF, which is in line with the company’s dividend policy for 2018-20. The record date is set for 12 July. The recommended dividend implies yields of 4.9% for ords and 5.5% for prefs at yesterday’s close. The BoD also approved a date for its AGM, which the company will hold on 28 June in the form of absentee voting. The record date to participate is 6 June.
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The BoDs of ROSSETI Lenenergo proposed 2020 dividends to their AGMs on Friday, 21 May. The proposed final 2020 dividends are RUB0.2626/ord (current dividend yield of 4.3%) and RUB15.1688/pref (current
111 RUSSIA Country Report June 2021 www.intellinews.com