2020 November 11, 09:50
The shareholders of M.Video-Eldorado Group approved RUB 5.4 bn dividends
11 November 2020, Moscow, Russia. PJSC M.Video (M.Video-Eldorado Group, M.Video-Eldorado, the Company, or the Group; MOEX: MVID), Russia’s largest consumer electronics retailer by revenue and part of SAFMAR Group owned by Mikhail Gutseriev, announces resolutions adopted by the Extraordinary General Meeting of Shareholders on 9 November 2020.
The Extraordinary General Meeting of Shareholders approved a dividend of RUB 30 per ordinary share, with the total dividends standing at ca. RUB 5,393 m. The record date for dividend distribution is 20 November 2020.
Alexander Izosimov, M.Video-Eldorado Group CEO:
‘The decision by the meeting of shareholders to approve dividends of RUB 30 per share reflects the flexibility and quality of our business model and is a testimony to our strategy that delivered a strong growth for the Group during the turbulent times of the COVID-19 pandemic. It also reflects our ongoing commitment to enhancing M.Video-Eldorado’s investment case and shareholder value’.
The Extraordinary General Meeting of Shareholders also approved the new versions of the following internal documents of PJSC M.Video: Charter, Regulation on the General Shareholders Meeting, Regulation on the Board of Directors, Regulation on the Management Board, Regulation on the Sole Executive Body (Chief Executive Officer), and Regulation on the Audit Commission.
M.Video-Eldorado Group (PJSC M.video) is Russia’s largest consumer electronic retailer uniting the M.Video and Eldorado brands in the market for home appliances and electronics. The companies’ total annual turnover exceeds RUB 430 billion, including VAT (FY 2019). The M.Video-Eldorado Group is the only Russian publicly-traded company in the electronics retail sector. The company's shares are traded on Moscow Exchange (ticker: MVID).
The Group operates Russia’s largest online platform for consumer electronics and household appliances commanding a market share of over 30% (as of FY2019). As of September 30, 2020, the Group also operates 538 stores under the M.Video brand, 501 stores under the Eldorado brand in more than 250 cities across Russia with a total selling space of 1,454 thousand square meters. The Group has 100% online coverage in all cities of operation.