MOSCOW, Feb 14 (PRIME) -- The board of directors of one of Russia’s leading meat producers Cherkizovo Group has recommended raising final dividends for 2018 to 101.63 rubles per common share from 75.07 rubles paid for 2017, as seen by PRIME in the materials of the company on Thursday.
The record date for the dividends is set at April 7.
In September 2017, the shareholders of the company also approved distribution of undistributed profit for 2014, 2015, 2016 and January–June 2017 and payment of 59.82 rubles per share, or a total of 2.63 billion rubles, in dividends.
In May 2018, the board approved a new dividend policy, under which the company is to pay at least 50% of net profit calculated under International Financial Reporting Standards (IFRS) in dividends for the previous year.
The family of Cherkizovo Group’s founder Igor Babayev controls 89.5% in the company, while an 8% stake is owned by Spain’s Grupo Fuertes.
(65.6783 rubles – U.S. $1)
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