information
about securities

GDR Performance

Dividends

One of Etalon Group’s key priorities is to distribute the profits from its development projects among shareholders.

Since 2013, the Company has gradually raised the target level of its dividend payments from 15–30% to 40%–70% of IFRS net prof­it, as approved by the Board of Directors in May 2017

In September 2021, following a recovery in profitability, the Board of Directors updated the Company’s dividend policy. The Company will now aim to pay out dividends in the range of 40%–70% of pre-PPA IFRS net profit. Payments will be made once a year after the publication of Etalon Group’s IFRS annual financial statements. In order to increase transparency, the Board of Directors will provide its recommendation on dividends no later than 31 May following the reporting period and payments will be made no later than 31 December in the same year.

In May 2022, the Board of Directors took into account the fact that certain restrictions, including with respect to the distribution of funds through international payment and clearing systems, could have a significant impact on the Company’s ability to pay out dividends in line with its existing dividend policy in respect of all groups of shareholders. Based on the principle of equal treatment of all shareholders, the Board of Directors decided to postpone consideration of the matter of dividend payments for 2021 and 2022 until constraints currently in force are removed.

Dividend History
Final dividend,
USD per share
Interim dividend,
USD per share
Download
Final for the previous year,
USD per share
Interim for the current year,
USD per share
Total,
USD per share
Total amount of dividends paid
(declared) for the previous year,
USD mln
2014
0.075
0.02
0.095
22.1
2015
0.12
0.03
0.15
41.3
2016
0.05
0.03
0.08
23.6
2017
0.107
0.04
0.147
38.4
2018
0.18
-
0.18
64.9
2019
0.19
-
0.19
56.0
2020
0.16
-
0.16
48.0
2021
0.13
-
0.13
48.9
2022
No decision was made on the payment (declaration) of dividends for 2021 
and/or interim dividends
2023
No decision was made on the payment (declaration) of dividends for 2022 
and/or interim dividends
2024
At the moment, no decision was made on the payment (declaration) of 
dividends for 2023 and/or interim dividends

Ownership structure

Company is aware of the following interests in its share capital
Ownership Structure
as of August 8, 2025

Analyst coverage

Etalon Group's activities are monitored by the analysts listed below
Organisation
Name
Telephone
Email address
Recommendation
Date
BCS
Andrey Sharov
Rating: positive
25.09.2024
Alfa-Bank
Irina Fomkina
Under review
16.05.2025
Sberbank CIB
Georgiy Ivanin
Sector under review
28.10.2024
Gazprombank
Marat Ibragimov
Buy
23.01.2025
ATON
Mikhail Ganelin
Sector under review
02.12.2024
Sinara
Lukina Mariya
Buy
20.12.2024
93 ₽
Target price
Disclaimer

The analysts listed above cover Etalon Group GDRs. While Etalon Group seeks to keep the information on this page up to date, the information may be incomplete and is subject to change.

The opinions, estimates and projections regarding Etalon Group’s performance or target GDR price are those of the analysts, and may not coincide with the views of Etalon Group or its management. By providing the information on this page, Etalon group does not imply any endorsement of any reports, conclusions, recommendations or estimates provided by these analysts.

Debt instruments


Gross debt composition
142 243 mln ₽
As of June 30, 2024 
Net corporate
debt, RUB bln
Net corporate debt
to EBITDA
Net project debt (monetary position), RUB bln
Coverage ratio
of project debt
History of public borrowing
Borrower
Financial instrument
Series
Size of issue, RUB mln
Issue date/maturity date
Tenor
Coupon
Etalon-Finance JSC
Exchange-traded bonds
BO-P03
10,000
21.03.2021/15.09.2026 amortised
5 years
Coupons 1-20: 9.10%
Etalon-Finance JSC
Exchange-traded bonds
002R-01
10,000 (8,000 + additional issue 2,000)
Issue:
22.02.23 - main issue
25.05.2023 - additional issue
Maturity: 03.02.2028
Offer - 3 years
15 years
13.7% (before offer)
Etalon-Finance JSC
Exchange-traded bonds
002R-02
8,000
15.10.2024 / 30.09.2027
3 years
Key rate + 3%
Etalon-Finance JSC
Exchange-traded bonds
002R-03
6,750
11.04.2025/01.04.2027
2 years
25.5%
Etalon LenSpecSMU and Etalon Finance (until March 2022 – Leader-Invest) are subsidiaries of Etalon Group.
Redeemed
Borrower
Debt instrument
Series
Size of issue,
mln ₽
Issue date / maturity date
Tenor
Coupon
Etalon-Finance JSC
Bond issue
BO-P02
5,000 (4,000 + additional issue 1,000)
2018
Offer – 3 years
5 years
For 1-6 coupons: 11.70%
For 7-10 coupons: 7.95%
LenSpetsSMU
Bond issue
001R-02
5,000
2017
5 years
For 1-20 coupons: 8,95%
Etalon-Finance JSC
Bond issue
BO-P01
3,000
2016
Offer – when determining the 3rd coupon, 5th-10th coupons
5 years
1-3 coupon: 13,50%
4-5 coupon: 8,50%
6 coupons: 9,00%
7-8 coupon: 7,95%
LenSpetsSMU
Bond issue
001R-01
5,000
2016
5 years
For 1-20 coupons: 11.85%
LenSpetsSMU
Bond issue
02
5,000
2012
5 years
For 1-20 coupons: 12.9%
LenSpetsSMU
Loan participation notes (LPNs)
-
USD 150,000,000
2010
5 years
9,75%
LenSpetsSMU
Exchange-traded bonds
BO-02
2,000
2010
3 years
For 1-12 coupons: 14.5%
LenSpetsSMU
Exchange-traded bonds
BO-01
3,000
-
3 years
-
LenSpetsSMU
Bond issue
01
2,000
2009
3 years
For 1-12 coupons: 16.00%
LenSpetsSMU
Loan participation notes (LPNs)
-
USD 100,000,000
2007
3,5 years
1-3 coupon: 9.75%
4-10 coupon: 12.00%
CUN
Bond issue
02
1,500
2006
Offer – 2 years
3,5 years
11.69% per 1 coupon
11.44% per 2 coupon
11.19% per 3 coupon
10.94% per 4 coupon
11.75% per 5-7 coupon
CUN
Bond issue
01
1,000
2005
Offer – 1 year/2 years
5 years
15.5% per 1-2 coupon
12.0% per 3 coupon
11.75% per 4 coupon
11.25% per 5 coupon
11.0% per 6 coupon
21.02.2008-Koll-option
LenSpetsSMU, Leader Invest and CUN are subsidiaries of Etalon Group

The address of the Internet page provided by the information agency accredited by the Bank of Russia to carry out actions to disclose information on securities and other financial instruments, on which information on Etalon Group IPJSC is published

Contact Information
next section
retail investors