Detsky Mir to keep paying out 100% of RAS net profit
MOSCOW. April 30 (Interfax) - Detsky Mir , Russia's largest children's goods retailer does not plan to revise its practice of paying out dividends amounting to 100% of net profit to Russian Accounting Standards.
"As you know, in the past five years we paid dividends in the amount of 100% of net profit. When I'm talking about net profit, I mean RAS [...] We will continue to direct 100% of net profit to dividends," Detsky Mir CFO Anna Garmanova said in a conference call on Monday.
Detsky Mir's dividend policy calls for paying out at least 50% of IFRS net profit for the preceding year. However, the company has historically paid out dividends equivalent to more than 100% of IFRS net profit, amounting to as much as 100% of the figure to RAS.
The company's board earlier recommended that shareholders approve dividends for 2018 in the amount of 3.28 billion rubles, or 4.45 rubles per share.
The retailer's RAS net profit rose to 6.54 billion rubles in 2018 from 5.06 billion rubles in the previous year. Detsky Mir paid out dividends of 3.2 billion rubles, or 4.39 rubles per share for the first nine months of 2018.