Exec says M.Video-Eldorado not to open new stores in 2022

MOSCOW, Aug 25 (PRIME) -- Russia’s largest electronic goods and household appliances retailer M.Video-Eldorado does not plan to open new stores in 2022, Chief Operating Officer Sergei Li said on Thursday during a conference call on financial and operating results.

“No, we have no such plans,” he said.

Chief Financial Officer Anna Garmanova said that the company didn’t change its dividend policy and plans to return to the issue of dividend payments later.

Under the dividend policy, approved in February 2021, the company should sent at least 100% of its net profit to dividends. The payments should be done twice a year.

In May 2022, the board of director recommended against paying final dividends for 2020. The company paid 6.292 billion rubles in interim dividends for January–September of 2020.

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