Detsky Mir planning to allocate all 2017 profits as dividends
MOSCOW. March 5 (Interfax) - Children's goods retailer Detsky Mir will stick to its practice of paying out 100% of net profit to Russian Accounting Standards (RAS) as dividends.
"Within the framework of RAS the company's management will recommend distributing the whole profit for the period as dividends according to the results of 2017," Detsky Mir said in a statement.
Detsky Mir's dividend policy provides for dividend payments of at least 50% of net profit to International Financial Reporting Standards (IFRS) for the previous year. The company has traditionally allocated more than 100% of IFRS net profit as dividends, in line with 100% to RAS.
Detsky Mir paid out dividends totaling 4.77 billion rubles in 2017 including payments for 2016 and interim dividends. The company paid out 2.19 billion rubles for 9M or 2.97 rubles per share which was 100% of net profit to RAS.
Dividends totaled 4.427 billion rubles in 2016, in 2015 - 2.973 billion rubles and in 2014 - 1.856 billion rubles. The average annual increase in payments over the past five years has been 6.8%, the retailer said in a presentation.