19 Oct 2012 16:50

M.Video stock rises 3% on dividend news

MOSCOW. Oct 19 (Interfax) - Stock in consumer electronics and household appliances chain OJSC M.Video took off on Friday, rising 3% on the news that the company board of directors has recommended that shareholders vote in favor of dividends totaling 5.4 billion rubles at 30 rubles per share.

M.Video shares were going for 227.5 rubles apiece on the MICEX-RTS exchange by 4:25 p.m. Moscow time (up 2.8%).

The company will have an EGM on December 5. Shareholders eligible for dividends will have to be on the register as of October 23.

The assumption is that the dividends will be paid out not later than December 31.