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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  X5 Retail Group    FIVE

X5 RETAIL GROUP

(FIVE)
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X5 Retail : approves amended dividend policy and first interim dividend of RUB 20 BN

11/18/2020 | 10:29am EST

​​​Amsterdam, 18November 2020 - X5 Retail Group N.V. ('X5' or the 'Company'), a leading Russian food retailer (LSE and MOEX ticker: 'FIVE'), announces that the Company's Supervisory Board has approved changes to X5's dividend policy and recommended distribution of an interim dividend for 9M 2020.

In order to increase the frequency of profit distributions to shareholders, the Company is introducing the practice of semi-annual interim dividend payments. The amended dividend policy will focus on using cash flow as the basis for calculating future dividends while maintaining a net debt/EBITDA ratio of less than 2.0x (under IAS 17 standard) as the target threshold for the payment of dividends.

X5 Retail Group's management currently estimates the Company's total dividend capacity for FY 2020 at up to RUB 50 bn, subject to financial performance in Q4 2020, as well as approval by the Supervisory Board and AGM. At present, the Company does not plan any major deleveraging.

The interim dividend for 9M 2020 amounts to RUB 20 bn, or RUB 73.645 per GDR (gross amount subject to taxes and fees), which represents 75.15% of X5 Retail Group's 9M 2020 net profit under IFRS 16. The record date for the dividend payment has been set as 18 December 2020 and the ex-dividend date is 17 December 2020. Dividends will be payable within 45 days of the announcement in accordance with the dividend policy.

X5 Chief Executive Officer Igor Shekhterman commented:

'In line with the Company's strategic goal of increasing returns for shareholders, and considering the financial results for 9M 2020, we have proposed the payment of an interim dividend of RUB 20 bn.

'X5 is committed to ensuring a transparent and reasonable dividend policy. The new policy better reflects the performance of our business, expectations for future growth and cash flows, as well as our planned investments, while balancing these factors with the objective of maintaining a strong balance sheet. It will also allow for more regular returns during the course of the financial year.'

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Disclaimer

X5 Retail Group NV published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2020 15:28:05 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 26 294 M - -
Net income 2020 582 M - -
Net Debt 2020 9 737 M - -
P/E ratio 2020 18,4x
Yield 2020 5,62%
Capitalization 10 220 M 10 220 M -
EV / Sales 2020 0,76x
EV / Sales 2021 0,70x
Nbr of Employees 269 300
Free-Float 99,9%
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Technical analysis trends X5 RETAIL GROUP
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 18
Average target price 45,63 $
Last Close Price 37,64 $
Spread / Highest target 54,9%
Spread / Average Target 21,2%
Spread / Lowest Target -36,2%
EPS Revisions
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NameTitle
Igor Shekhterman Chairman-Management Board & CEO
Stephan DuCharme Chairman-Supervisory Board
Svetlana Demyashkevich Chief Financial Officer
Alla Antonova Head-Architecture
Anton Valkov Chief Information Officer
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