Yandex shareholders will be paid dividends based on the results of the first half of the year

Yandex shareholders approved at the general meeting held on September 9 the payment of dividends for the first half of 2024 in the amount of 80 rubles. per one ordinary share. The last time the company paid dividends was based on the results of 2010, Kommersant reported. Information about the results of the meeting was posted by Yandex on the website of the Center for Corporate Information Disclosure.

Image source: Yandex

A proposal from Yandex management to consider the possibility of paying dividends to the board of directors was made when summing up the results of the second quarter of 2024. Yandex’s revenue under IFRS increased year-on-year by 37% to RUB 249.3 billion, adjusted net profit increased by 45% to RUB 22.7 billion. At the end of the year, the company expects revenue growth to be in the range of 38–40%.

At a meeting held on August 9, the board of directors of MKPAO Yandex recommended shareholders to approve dividends based on the results of the first half of the year in the amount of 80 rubles. per share. The board of directors also decided on an additional placement of 15.61 million shares through private subscription. The company’s authorized capital is RUB 151.78 million. A total of 379.45 million shares were issued. Against the backdrop of news about the payment of dividends, Yandex securities on the Moscow Exchange by 18:02 grew by 1.12%, to 3,805 rubles.

Yandex shares for payment of dividends can be purchased until September 19 inclusive, since on September 20 the register of shareholders entitled to receive dividends will be approved. Dividends will be paid no later than October 2024.