January 22, 2013 / 1:42 PM / 5 years ago

Russia Magnit to pay 25-35 pct of earnings in dividends

MOSCOW, Jan 22 (Reuters) - Magnit, Russia's second-biggest food retailer by revenue, plans to pay around 25-35 percent of net income in dividends in the next two-three years, its Chief Executive Officer Sergei Galitskiy said on Tuesday.

For 2011, Magnit paid 1.73 billion roubles ($57.17 million)in dividends, or 18.26 roubles per share, equal to 14 percent of the annual net profit.

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