MD Medical Group Board of directors recommends dividends for 2024
MD Medical Group IPJSC (“MD Medical”, “MDMG”, "Group" or the "Company"; MOEX: MDMG), a leading Russian private healthcare provider, announces the decisions made by its Board of Directors, including recommendations for the General Meeting of Shareholders regarding the payment of annual dividends.
At its meeting on 28 March 2025, the Board of Directors approved MD Medical Group’s operational and financial results, pre-approved the consolidated financial statements for 2024, recommended an auditor for the 2025 financial statements, and set the date for the Annual General Meeting of Shareholders on 6 May 2025.
The Board also resolved to recommend that, in addition to dividends paid for the first three, six, and nine months of 2024, the General Meeting of Shareholders approve a dividend payment of RUB 1.7 billion, or RUB 22 per ordinary share of MD Medical Group (before dividend income tax) for the twelve months of 2024. Total dividends for 2024 are expected to exceed 60% of the Group's consolidated net profit for 2024 under IFRS.
If the Board's dividend recommendation is approved by the General Meeting of Shareholders, the list of persons entitled to receive dividends will be determined as of the record date on 19 May 2025 (end of business day).
If approved, dividend payments are expected to be made by the end of May.
MDMG CEO Mark Kurtser said:
“Following a successful 2024, the Board has decided to recommend that the General Meeting of Shareholders approve an annual dividend of RUB 22 per share of MD Medical Group. This will mark the fourth dividend payment for 2024, with a combined total exceeding 60% of the Group’s net profit. Funded in part by retained earnings from previous years, the total dividend for 2024 will amount to RUB 205 per share, representing a 20% dividend yield for shareholders as of today.
Dividend payments not only recognise our achievements but also reflect our confidence in sustained growth and future prospects. While we have ambitious development plans, we remain committed to balancing strategic investments with rewarding our shareholders.”
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About MD Medical Group
MD Medical Group is a leading provider in the highly attractive Russian private healthcare service market. Today, the Company manages 65 state-of-the-art healthcare facilities, including 11 multidisciplinary hospitals and 54 out-patient clinics in 31 regions of the Russian Federation. In 2024, MD Medical Group's revenue amounted to RUB 33.1 bln while EBITDA stood at RUB 10.7 bln. The Company's ordinary shares are traded on Moscow Exchange (MOEX: MDMG).