The Board of Directors of “Magnit” on October 29, to discuss dividends for 9 months

The Board of Directors of “Magnit” on October 29, to discuss dividends for 9 months


The total dividend for 2014 amounted 34,32 billion. According to the dividend policy of “Magnet”, dividends are paid from net profit of the retailer under RAS.

MOSCOW, 23 Oct. The Board of Directors of the largest Russian retail retailer, the company “Magnit”, at its meeting on October 29 to discuss the size of dividends by results of nine months of 2015, follows from company materials.

At the meeting of the Board of Directors will also determine the recommended price of transactions in which there is an interest, and will appoint new date of the extraordinary General meeting of shareholders.

According to the dividend policy of “Magnet”, dividends are paid from net profit of the retailer under RAS. CEO and major shareholder of the company Sergey Galitsky in July declared that “the Magnet” plans to direct on dividends not less than 40% of its profits, and to make payments three times a year.

The total dividend for 2014 amounted 34,32 billion rubles, including 7,404 billion rubles for the first half, 14,38 billion in the first nine months and 12,536 billion rubles by results 2014.

The largest shareholder of the network of shops “Magnet” (the Central office located in Krasnodar) is Sergey Galitsky, who owns about 40% of the shares; approximately 54% of shares are in free float. The company’s net profit under IFRS in 2014 increased 33.9% to 47,686 billion rubles in the first half of 2015 — to 29,% to 25,225 billion.