REG - Etalon Group PLC - Etalon Group Pays Interim Dividend for 1H 2017 <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

14/12/2017 11:00

RNS Number : 3699Z
Etalon Group PLC
14 December 2017
14 December 2017
Etalon Group Pays Interim Dividend for 1H 2017
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that on 13 December 2017 it paid the interim dividend for 1H 2017 of 4 US cents per ordinary share/GDR, whichrepresents 58% of Etalon Group's consolidated net profit for the period (based on the official Central Bank of Russia exchange rate on the date that the dividend was declared).
This is the first dividend distribution under the Company's updated dividend policy adopted in May 2017. Under the new policy, Etalon Group's target dividend payout range increased from 30%-50% to 40%-70% of consolidated IFRS net income. Based on this range, the Board of Directors will continue to consider semi-annual dividend payments, taking into account the pre-sales performance and funding needs for the Company's development programme. 
This and other recent announcements are available on the Etalon Group website: http://www.etalongroup.com/investors/news/
Etalon Group IR Team
T: +44 20 8123 1328
E: info@etalongroup.com
EM
Sam VanDerlip 
T: +44 7554 993 032
T: +7 499 918 3134
E: vanderlip@em-comms.com
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas, where it operates through Etalon Invest and Etalon LenSpetsSMU subsidiaries. With a 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry - since its inception, Etalon Group has commissioned 5.6 million sqm.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2016 was RUB 7.8 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2016, Etalon Group's portfolio comprised 35 projects, with a total of 2.82 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 115,818 million.
For the year ended 31 December 2016, Etalon Group's new contract sales totalled 496 ths sqm, or RUB 47,443 million. Deliveries in 2016 amounted to 420 ths sqm.
The Company recorded revenue of RUB 49.0 billion and EBITDA of RUB 7.3 billion for the year ended 31 December 2016.
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.

This information is provided by RNS
The company news service from the London Stock Exchange
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