MOSCOW, Sept 12 (Reuters) - Russia’s biggest home electronics retailer M.video said on Thursday it aimed to pay 60 percent of earnings in annual dividends.
“In the past we followed a policy of a moderate annual dividend along with an extra dividend when the company had additional funds. We ... believe the company should increase the annual dividends to a payout ratio of 60 percent,” said M.video chairman Peter Gyorffy in a statement.
The company also said its board recommended to pay 13.8 roubles ($0.42) per share, or a total of around 2.5 billion roubles, in the next annual dividend, adding the payout will represent 60 percent of net profit. ($1 = 32.8552 Russian roubles) (Reporting by Maria Kiselyova)