Magnit might pay H1 dividends
MOSCOW. July 18 (Interfax) - The board of directors at Russian retailer OJSC Magnit plans to meet on July 19 and confirm recommendations on the size of dividends for the first six months of the 2012 financial year, the company said in a statement.
The likely date for compiling the shareholder register for taking part in their next meeting, which will include a vote on dividends, is July 27.
The date and agenda for the day of the extraordinary meeting will be set by the board of directors.
The board will also review a non-arms length transaction.
Over recent years, Magnit has paid dividends for the second, third, and fourth quarters, as well as the first quarter of the subsequent year. It was earlier reported that the company's shareholders approved a dividend payout for 2011 at their annual meeting at the end of May. The payout rate came to 18.26 rubles per share (totalling 1.7 billion rubles). They also approved a payout for the first quarter at 5.18 rubles (489.8 million rubles). Therefore, the total payout will come to 2.2 billion rubles.
Magnit is the leading retailer in Russia in terms of total stores. The main owner is Magnit's founder and general director, Sergei Galitsky, who owns a 38.66% stake. The company's charter capital comes to 945,613.55 rubles divided into 94,561,355 common shares at a face value of 0.01 rubles each.
