Magnit may pay 16.9 bln of interim dividends for 9 months of 2015

MOSCOW, October 30. The Board of Directors of Magnit has recommended to pay RUB 16.9 bn of interim dividends for the first 9 months of 2015. This is stated in the message of the company. Dividends recommended on the basis of 179,77 rubles per share.

In January-September 2015. “Magnet” has received net profit under IFRS in the amount of 43,25 billion rubles Thus, the amount of payments could reach about 40% of the profit, which corresponds to previously voiced by the company’s management plans.

At the end of September shareholders “the Magnet” has approved a dividend for the first half of 2015 based 88,4 rubles per share, the total amount of payments for this period will amount to 8.36 billion rubles.

In 2014, Magnit paid RUB 14.4 bn of dividends in the first nine months, including 7.4 billion rubles in the first half. In addition, according to the results, the retailer is additionally paid dividends in the amount of 12.5 billion rubles.

JSC “Magnet” is a holding group company that manages the largest by revenue and number of stores retail trading network “the Magnet”. The largest shareholder of Magnit is the founder and CEO Sergey Galitsky, who directly owns 36,52% of the shares, approximately 54% of shares are in free float.

At the end of June the total number of stores of the retailer was 11 388 thousand, including 9 thousand 246 stores format “at home”, 208 hypermarkets, 127 stores “Magnit family” and 1 807 thousand shops drogerie. Net profit “Magnet” for 9 months of 2015 increased by 27.6% compared with the same period last year and amounted to 43,25 billion rubles, the Revenue of the retailer for the reporting period increased by 27.2% and amounted to 690,4 billion rubles.