OR Group will not pay dividends for 2021
29.06.2022 3348

OR Group will not pay dividends for 2021

At the annual meeting of shareholders of OR Group (the former Obuv Rossii Group of Companies), it was decided not to pay dividends for 2021, due to a decrease in the group's main financial indicators in the reporting year, which in turn was the result of the economic crisis amid the coronavirus pandemic, - reports TASS.

In the first half of 2022, the company found itself in a difficult financial situation, defaulting on all bond payments. The company is currently in the process of developing measures to restructure its debt portfolio.

It is assumed that a return to dividend payments is possible within the next two years, after overcoming the crisis.

A new board of directors was elected at the annual meeting. It included Anton Titov (the founder of the company), Vyacheslav Shabaikin, Stanislav Zverev, Alexei Meshkov, Natalia Zherebtsova, Kirill Streblyansky, Sergei Yung, Sergei Usik and Marko Lilich. As the company's press service explained to TASS, Lilich became a new member of the board of directors, replacing the company's IT director Dmitry Karpenko, who voluntarily resigned his powers back in March.

Or Group Westfalika chain of stores, westfalika.ru marketplace and services ecosystem. At the end of 2020, the group's revenue under IFRS amounted to 10,8 billion rubles, net profit - 0,6 billion rubles, EBITDA - 2,3 billion rubles. Or Group last paid dividends for 2018, the amount was 266,8 million rubles.

At the annual meeting of shareholders of OR Group (the former Obuv Rossii Group of Companies), it was decided not to pay dividends for 2021, due to a decrease in the main…
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