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Dixy Nixes Dividends

Dixy Group is not planning on paying out dividends in the next few years but will instead spend its profit on development, Interfax reported Friday, citing the group's president, Ilya Yakubson.

"The main theme will be development over the next few years," he said, adding that dividend payouts could theoretically be expected for 2014. "In practice, everything will depend on the growth rates we sustain," Yakubson said.

"Russia is a fast-growing market, one of the few left in the world. Our shareholders and our board of directors believe that we need to take advantage of these opportunities," Yakubson said.

(MT)

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