21 May 2018 18:45

Doxy not planning 2017 dividends due to losses

MOSCOW. May 21 (Interfax) - Directors at Dixy group have recommended that shareholders vote at their annual meeting to waive 2017 dividends due to losses, the Russian food retailer said in a statement following a board meeting on May 18.

Losses for the year were 42.541 million rubles, the statement said.

The AGM takes place on June 29, with shareholders on record as of June 6 eligible to vote.

Dixy did not pay dividends for 2016 either, opting instead to re-invest that year's net profit of 132.5 million rubles to Russian Accounting Standards (RAS).

In fact the company has not paid dividends to shareholders at all yet.