BELUGA GROUP announces the Board of Directors' recommendations about the amount of dividends for 2020
At the meeting held on March 11, 2021, the Board of Directors recommended that the Annual General Shareholders Meeting approve the payment of dividends for 2020 in the amount of 90 rubles per share before tax, for a total of 1,422 million rubles. Taking into account the interim dividends paid for the first half of the year, the total payment for the year will be 100 rubles per share before tax.
At the end of 2020, the total payment of dividends on outstanding shares (excluding treasury shares*) will be 1,233.7 million rubles**, which is 50.2% of BELUGA GROUP's net profit*** under IFRS for 2020.
The Annual General Shareholders Meeting will be held on April 22, 2021 in absentia. The list of entitled attendees will be compiled as of March 30, 2021, and it is recommended that the list of shareholders entitled to receive dividends be drawn up as of May 6, 2021.
*As of December 31, 2020, BELUGA GROUP held 3,471,745 quasi-treasury shares.** Based on the results of H1 2020, 124.2 million rubles were allocated for the payment of dividends on outstanding shares.
*** In accordance with the dividend policy, in the future the board of directors will recommend a distribution of at least 25% of net profit among shareholders.