The Supervisory Board of X5 Retail Group approved a dividend policy for the company in 2017, establishing a set of principles for the allocation of net profit among X5’s shareholders.
The key principles of the dividend policy are as follows*:
1) The dividend policy sets a target payout ratio of at least 25% of X5 Retail Group’s consolidated IFRS net profit, provided that the Company’s financial position allows for it.
2) When considering a dividend proposal to the General Meeting of Shareholders, the Supervisory Board will be guided by a target consolidated net debt/EBITDA ratio of below 2.0x, in line with the Company’s financing strategy.
The ultimate decision on payment of dividends will always be subject to approval of the General Meeting of Shareholders.
*Under IAS 17
Dividend per GDR|
RUB 21,590 mln||
RUB 25,000 mln||
(1) The proposed dividend will be considered by the AGM on 10 May 2019
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