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Mail.ru to pay another special dividend
2013-02-26 10:04:00| Telecompaper Headlines
(Telecompaper) Russian internet portal Mail.ru announced a strong increase in 2012 results and said it will pay another special dividend after selling down its stake in Facebook. The company's revenues rose 39 percent last year to RUB 21.15 billion, EBITDA was up 38 percent to RUB 11.53 billion, and net profit rose 37 percent to RUB 8.50 billion. According to figures from TNS, the portal had a monthly audience of 33.3 million Russian users in December 2012. After finishing the year with net cash of RUB 28.78 billion, including proceeds from selling its stakes in Zynga and Groupon, Mail.ru said it will pay a special dividend of USD 4.30 per share next month, representing a total payout of USD 899 million. Last August it already paid out a special dividend of USD 795 million. CEO Dmitry Grishin said the company saw some softness in the display market in H2, but other services were performing well, especially sales of virtual gifts and services on its community platforms and its APIs. With the display market expected to recover this year, and community VAS and MMO gaming expected to remain strong, the group forecast revenue growth of 25-28 percent in 2013. The EBITDA margin is expected to stay in the low 50s, after a result of 54.5 percent in 2013.
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Category:Telecommunications