Positive Group has approved a new version of its dividend policy, according to which the company plans to annually allocate from 50 to 100% of management net profit for dividends. This is stated in the press release.
During trading, the price of Positive Group shares decreased by 4.51% to a minimum of RUB 2,428.2. As of 18:38 Moscow time, the securities were trading at RUB 2,470.8. (-2.84%), the Moscow Exchange index was at 3234.78 (+1.33%). Since the beginning of the year, the benchmark has grown by 49%, the company’s quotes by 96%.
The company has updated its dividend policy in accordance with the practice already applied in the company. The document was approved by the board of directors. According to it, the basis for determining the amount of dividends is net profit according to management reporting – NIC.
The company explained that the updated dividend policy will allow investors to easily predict the expected amounts of payments at the end of the year. As part of the approved dividend policy, Positive Group plans to pay dividends at least once a year. In 2023, the company has already allocated 3.75 billion rubles for dividends, making two payments in the amount of 50% and 25% of the NIC amount based on the results of 2022.
Earlier, Positive Group published financial results for the first half of 2023. Revenue under IFRS increased by 34% year-on-year to RUB 4.7 billion. EBITDA turned out to be negative (-1.7 billion rubles). The net loss before capitalization of expenses (NIC) amounted to RUB 1.8 billion, and the net loss according to IFRS standards was RUB 400 million.