OREANDA-NEWS. PJSC "Magnit", Russia's largest food retailer (the "Company"; MICEX and LSE: MGNT), announces the payment of dividends.

Please be informed that the Company has made dividend payment on its shares following the results of the 6 months of 2014 financial year.

Type of securities:

ordinary registered shares

State registration number of the issue:

1-01-60525-Pas of 04.03.2004

Total amount of dividends accrued on shares following the results of the 6 months of 2014 financial year:

7,404,154,096.50 rubles

Amount of dividend accrued on one share following the results of the 6 months of 2014 financial year:

78.3 rubles

Form of yield payment:

monetary funds in the currency of the Russian Federation by bank transfer

Dividend payment date for nominees and trust managers who are professional securities market participants registered in the shareholder register:

October 24, 2014

Dividend payment date for the other shareholders registered in the shareholder register

November 18, 2014

The Company has effected dividend payment in the amount of 7,404,145,796.70 rubles, out of which 5,950.80 rubles were returned as of December 24, 2014 due to the absence of the accurate bank account details and/ or another creditor's delay.

The outstanding dividend amount is 8,299.80 rubles which represents 0.000112% of the total amount of the announced dividends. Nonpayment is due to the absence of the bank account details required for the payment.

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of USD 9,979 million USD and an EBITDA of USD 1,045 million USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB. Measured by market capitalization, Magnit is one of the largest retailers in Europe.