THIS MESSAGE (MATERIAL) IS CREATED AND (OR) DISTRIBUTED BY A FOREIGN MASS MEDIA PERFORMING THE FUNCTIONS OF A FOREIGN AGENT AND (OR) A RUSSIAN LEGAL ENTITY PERFORMING THE FUNCTIONS OF A FOREIGN AGENT.
The Supervisory Board of X5 Retail Group recommended not to pay final dividends for 2021. This is reported in the company’s report for the fourth quarter and 2021.
As noted in the document, “Given the current challenging market conditions and the need to direct all resources to support X5’s ongoing operations, the Supervisory Board recommends that X5 not pay a final dividend for 2021.”
For 9 months of 2021, X5 paid 73.65 rubles. per share. The second dividend payment, based on previous management statements, was expected to be around RUB 110.
It is noted that the order of the Central Bank of the Russian Federation to prohibit the payment of dividends in favor of non-residents can also act as a factor in limiting payments.
On February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, EU, UK, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
