Capital, shares and dividends
Share capital
The charter capital of PJSC M.video as of 31 December 2018 was RUB 1,797,682,270 and was divided into 179,768,227 ordinary shares with a nominal value of RUB 10 per share.
Shareholder structure
Shareholder | Share of charter capital as of 31 December 2018 | Share of votes as of 31 December 2018 | Share of charter capital as of 31 December 2017 | Share of votes as of 31 December 2017 |
---|---|---|---|---|
Mianello Limited | 38.56 | 38.93 | 57.68 | 57.68 |
MS CE Retail GmbH | 15.00 | 15.15 | 0.00 | 0.00 |
JSC Doverie National Pension Fund | 6.97 | 7.04 | 9.68 | 9.68 |
JSC Budushcheye National Pension FundInformation concerning JSC Budushcheye National Pension Fund as of 31 December 2018 is provided in accordance with information from the List of Registered Persons in the register of holders of the Company’s registered securities as of 31 December 2018 (including the disclosure of nominal holders). JSC Budushcheye National Pension Fund is not included in the mentioned list. | No information available | No information available | 9.35 | 9.35 |
PJSC M.video | 0.97 | Shares do not grant voting rights | 0.00 | 0.00 |
LLC MVM | 0.13 | 0.13 | 0.13 | 0.13 |
Other shareholders | 38.37 | 38.75 | 23.16 | 23.16 |
Total | 100 | 100 | 100.00 | 100.00 |
PJSC M.video’s largest shareholder is Mianello Limited, with a shareholding of 38.6%.
In August 2018, M.Video–Eldorado Group closed deals in which MediaMarktSaturn acquired a 15% stake in PJSC M.video from SAFMAR Group, and M.Video–Eldorado Group acquired a 100% stake in the Russian business of MediaMarktSaturn.
At the end of 2018, LLC MVM owned 236,990 shares of PJSC M.video. The rest of shares (treasury shares) were bought out and owned by PJSC M.video.
Shareholder type | Number of shareholders | Number of shares | Share of the charter capital, % | |
---|---|---|---|---|
ordinary | preferential | |||
Owners–individuals: | 9 | 294 | 0 | 0.000164 |
including non-residents of the Russian Federation | 0 | 0 | 0 | 0 |
including residents of the Russian Federation | 9 | 294 | 0 | 0.000164 |
Owners–legal entities: | 0 | 0 | 0 | 0 |
including non-residents of the Russian Federation | 0 | 0 | 0 | 0 |
including residents of the Russian Federation | ||||
Nominal holders: | 1 | 178,028,753 | 0 | 99.032380 |
Securities of unidentified parties–legal entities | 0 | 0 | 0 | 0 |
Pledge holders: | 0 | 0 | 0 | 0 |
Issuer account: | 1 | 1,739,180 | 0 | 0.967457 |
Total: | 11 | 179,768,227 | 0 | 100 |
Market capitalisation and stock quotes
Ordinary shares of PJSC M.video are traded on the Moscow Exchange under the ticker MVID and are included in the level 1 quotation list. The Company’s shares are included in the calculation base of the main index of the Russian stock market – the Moscow Exchange Index – as well as the Consumer Sector Index calculated by the Moscow Exchange.
In 2018, PJSC M.video’s share price decreased slightly by 2.3% as a result of downward pressure on the shares of Russian retailers stemming from macroeconomic and geopolitical factors. At the same time, the PJSC M.video stock price noticeably outpaced changes in the Moscow Exchange Consumer Sector Index, which showed a decrease of 12.9% in 2018.
The average trading volume of the Company’s shares (in units of stocks) in 2018 decreased by 58.0% compared with 2017.
As of the end of 2018, PJSC M.video had a market capitalisation of RUB 73,740,926,715.40.
Market making
As part of the Group’s work aimed at improving its investment case, PJSC M.video pays considerable attention to maintaining the liquidity of its shares on the Moscow Exchange. To this end, the Company has entered into agreements to maintain its share price and to provide market-making services with professional securities market participants. In accordance with these agreements, when certain conditions are met, market makers ensure that transactions involving the Company’s shares are carried out on the stock exchange, thus creating additional liquidity in the interests of all groups of shareholders.
Market maker | Start of the agreement with the market maker | Term of the agreement with the market maker |
---|---|---|
Finam Holdings financial services company | 25 July 2017 | 11 July 2018 with an extension |
ITI Capital financial services company | 4 September 2018 | 31 December 2018 with an extension |
UNIVER Investment Group | 10 April 2018 | 12 April 2019 |
23 April 2019 | 30 April 2022 |
DIVIDENDS
In accordance with the current Regulation on the Dividend Policy of PJSC M.video, the Company may pay dividends to shareholders out of the net profit based on the results of the corresponding financial reporting period. In determining the amount of dividends recommended to the General Meeting of Shareholders, the Board of Directors is guided by the Group’s net profit in accordance with IFRS.
In determining the recommended amount of dividends, the Board of Directors takes into account the main areas for profit distribution proposed by the CEO together with the Management Board based on the following factors:
- the amount of the Group’s net profit after tax for the corresponding period;
- the Group’s financial and business plans for future periods;
- the Group’s working capital structure at the end of the corresponding period;
- the Group’s debt at the end of the corresponding period.
Reporting period | Amount of declared dividends, RUB | Dividend amount per share, RUB | Share of dividends in net profit, % | Date of the General Meeting of Shareholders’ decision to declare dividends |
---|---|---|---|---|
2013 | 3,595,364,540 | 20 | 73.86 | 17 June 2014 |
Q3 2014 | 4,494,205,675 | 25 | 98.34 | 5 December 2014 |
2014 | 4,853,742,129 | 27 | 53.00 | 16 June 2015 |
2015 | 3,595,364,540 | 20 | 99.86 | 20 June 2016 |
2016 | The Annual General Meeting of Shareholders held on 5 June 2017 decided not to pay out dividends for 2016 | |||
2017 | The Annual General Meeting of Shareholders held on 29 June 2018 decided not to pay out dividends for 2017 | |||
2018 | The Annual General Meeting of Shareholders held on 26 June 2019 decided not to pay out dividends for 2018 |