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Russian wine company Abrau-Durso to allocate 35% of profits to dividends

Abrau-Durso is a leading producer of sparkling and still wines in Russia exporting its products to over 19 different countries

MOSCOW, May 29. /TASS/. The board of directors of Abrau-Durso group of companies proposed to allocate 35% of profits to dividends, the group’s main shareholder Boris Titov told TASS.

"The Board of Directors has proposed to increase dividends from 25% to 35% of profits. Considering the fact that Abrau-Durso's EBITDA is growing, we have reached a considerable volume of dividends. Although my position has always been that the most important thing is to invest in the development of the company. <...> I am confident that we will be able to find funds for development in other ways," Titov said.

Earlier, President of Abrau-Durso Group of Companies Pavel Titov stated that the company wants to maintain its dividend policy and allocate 25% of profits to payments.

Abrau-Durso is a leading producer of sparkling and still wines in Russia exporting its products to over 19 different countries.

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