October 10, 2018 / 2:25 PM / 12 days ago

Russian homebuilder Etalon plans to be more active in land buying - CFO

MOSCOW, Oct 10 (Reuters) - Russian homebuilder Etalon plans to buy land plots more actively in order to expand its market share, Chief Financial Officer Kirill Bagachenko said on Wednesday.

“We currently see interesting opportunities on the land market. Prices started to decline in the second half of the year, so we want to have a balance between high dividend payments within the given range and acquisitions of land plots,” he told a conference call.

The company is sticking to its dividend policy envisaging payouts in the range of 40-70 percent of net income, he said. (Reporting by Maria Kiselyova Editing by Edmund Blair)

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