Dividends

One of Etalon Group’s key priorities is to distribute the profits from its development projects among shareholders. Since 2013, the Company has gradually raised the target level of its dividend payments from 15–30% to 40%–70% of IFRS net prof­it, as approved by the Board of Directors in May 2017.

In September 2021, following a recovery in profitability, the Board of Directors updated the Company’s dividend policy. The Company will now aim to pay out dividends in the range of 40%–70% of pre-PPA IFRS net profit. Payments will be made once a year after the publication of Etalon Group’s IFRS annual financial statements. In order to increase transparency, the Board of Directors will provide its recommendation on dividends no later than 31 May following the reporting period and payments will be made no later than 31 December in the same year.

In May 2022, the Board of Directors took into account the fact that certain restrictions, including with respect to the distribution of funds through international payment and clearing systems, could have a significant impact on the Company’s ability to pay out dividends in line with its existing dividend policy in respect of all groups of shareholders. Based on the principle of equal treatment of all shareholders, the Board of Directors decided to postpone consideration of the matter of dividend payments for 2021 and 2022 until constraints currently in force are removed.