Beluga says board approves paying 25% of net profit in dividends

MOSCOW, Sep 11 (PRIME) -- The board of directors of Russian vodka producer Beluga Group has approved a new dividend policy, stipulating payments amounting to at least 25% of the consolidated net profit under International Financial Reporting Standards (IFRS) two times a year, the company said in a statement Friday.

"The key principles of our dividend policy are as follows -- the amount of dividends is to be recommended by the board of directors and set at least at 25% of the consolidated net profit under IFRS to be paid if the financial state of the company allows to make such payments," the company said.

The company paid 32 rubles per share in dividends for 2019, or a total of 505.6 million rubles.

(75.5274 – U.S. $1)

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