Shareholders of Softline Group decided at their general meeting on June 29 not to pay dividends on the company’s ordinary shares for 2023, according to representatives of the group.
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Shareholders elected members of the company’s board of directors, which consists of nine members. No information about them is disclosed.
Softline’s net profit under international financial reporting standards (IFRS) at the end of 2023 decreased to 3.1 billion rubles compared to 6.5 billion rubles a year earlier.
The board of directors must strive to meet two conditions:
- By the end of 2024, at least 25% of net profit under IFRS should be allocated to dividend payments. At the same time, the amount of dividends paid should not be less than 1 billion rubles.
- By the end of 2025 and in each subsequent year, at least 25% of the net profit of the previous year according to IFRS is expected to be allocated to the payment of dividends.
At the end of June, Softline decided to place 76 million shares to finance its mergers and acquisitions. The company’s approved strategy involves active consolidation of the IT market.
Author:
Karina Pardaeva
Source: RB
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