Obuv Rossii GC decided to direct 20% of net profit to dividends
03.07.2018 1583

Obuv Rossii GC decided to direct 20% of net profit to dividends

The amount of dividends that will be paid to the shareholders of Obuv Rossiya on the basis of the company's activities in 2017 will amount to 262,3 million rubles, which corresponds to 20% of the company's net profit for the 2017 year.

Such a decision was made at the annual meeting of shareholders, which was held on Friday 29 June at the head office of the company in Novosibirsk.

Summing up the company's activities in 2017, the director of Obuv Rossii Group Anton Titov noted: “We have successfully completed the first year in the status of a public company, demonstrating high performance and fully fulfilling the stated plans. In 2017, we actively expanded our retail network, strengthened our position as a leader in the mid-price segment of the shoe market and increased our lead over our closest competitors. The Group's revenue in 2017 increased by 8,4% to 10,8 billion rubles. The company has demonstrated high performance indicators. The EBITDA margin for the 2017 year was 25,3%, which is a high result among the world's leading fashion retailers. Given the favorable market situation, Obuv Rossii intends to continue to actively grow and consolidate the market, taking advantage of the unique business model, which includes developing a portfolio of recognizable brands, a diversified assortment of goods and services, an innovative loyalty program and developing an omnichannel sales model. ” 

Given the current financial condition of the Group and the investment development program for the next three years, it was decided to pay dividends on the placed shares of PJSC OR in the amount of 2,32 rubles per share. The date on which the persons entitled to receive dividends will be determined is July 16 2018 of the year. The total amount of dividends will be 262,3 million rubles or 20% of the company's net profit for 2017 year.

GC "Shoes of Russia" - Parent company OR. Footwear of Russia was founded in 2003, has a headquarters in Novosibirsk and an office in Moscow. The main business area is the production and sale of footwear and related products. The company operates 606 stores (113 operate under a franchise) under the brands Westfalika (single-brand shoe store), Pedestrian (multi-brand shoe supermarket), Rossita (a family-friendly store), Emilia Estra and Lisette (fashion shoe stores), and also develops brands of shoes and clothes for an active lifestyle S-tep, All.go and Snow Guard and owns two shoe factories in the Novosibirsk region. 

In October 2017 of the year, Obuv Rossii raised 5,9 billion rubles during an IPO on the Moscow Exchange (OBUV ticker), the issuer is PJSC OR, becoming the first public company in the Russian shoe and fashion market. In accordance with the audited financial results of the Group according to IFRS, in 2017 the revenue amounted to 10,801 billion rubles, net profit - 1,31 billion rubles, EBITDA - 2,74 billion rubles.

The amount of dividends that will be paid to the shareholders of Obuv Russia Group of Companies based on the results of the company's activities in 2017 will amount to 262,3 million rubles, which corresponds to 20% of net profit ...

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