Aug. 30 (Bloomberg) -- M.Video, a Russian electronics retailer, plans to pay a record first-half dividend, Vedomosti reported, citing remarks by Chief Financial Officer Christopher Parks during a conference call yesterday.
The company’s board will recommend that shareholders approve a payout of as much as 30 rubles per share, or a total of 5.39 billion rubles ($167 million), the newspaper said. M.Video has enough cash to open more stores and doesn’t see attractive acquisition opportunities, according to Vedomosti.
To contact the reporter on this story: Ilya Khrennikov in Moscow at firstname.lastname@example.org
To contact the editor responsible for this story: John Viljoen at email@example.com