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BELUGA GROUP announces The Board of Directors’ recommendations about the interim dividends’ amount for 1H2020

15
september 2020

The Board of Directors meeting on 14 September has made a decision to call Extraordinary General Shareholders Meeting and recommended to approve the payment of interim dividends for 1H2020 in the amount of 10 rubles per share (before tax), distributing 158 mln rubles in total.

To pay dividends on shares outstanding (excluding remaining treasury shares*) will be allocated 124.2 million rubles, which is 28% of BELUGA GROUP’s net consolidated profit under IFRS for 1H2020.

The decision was made in accordance with the new dividend policy, which was approved by the Board of Directors on 10 September 2020, following its principles at least 25% of the company's consolidated net profit should be allocated to dividend payments with targeted frequency at least twice a year.

The Extraordinary General Shareholders Meeting will be held on 16 October 2020 in absentia. A list of entitled attendees will be compiled as of 24 September. It has been recommended that the list of shareholders entitled to receive the dividends be drawn up as of 26 October 2020.

The Chairman of the Board of Directors Nikolay Belokopytov commented on this corporate event as follows: "The Board of Directors decided to recommend the Meeting of Shareholders to pay interim dividends for 1H2020. There are several factors that promoted this decision: first of all, strong operating results the company demonstrated in 1H2020, regardless the COVID-19 pandemic; new dividend policy, which stipulates regular payments; management’s focus on increase of BELUGA GROUP’s investment potential. The systematic approach to implement our sustainable development strategy based on business diversification, improvements in the efficiency of our operations, together with our social responsibility allows us to consistently grow our business and create shareholder value for all the stakeholders of BELUGA GROUP.”

* As of 30 June 2020, BELUGA GROUP held 3 383 053 quasi-treasury shares.

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