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Mondi PLC said on Monday its shareholders had approved a special dividend following the sale of Joint Stock Co Mondi Syktyvkar in Russia early in December.
The Weybridge, England-based packaging firm had said in the middle of December it planned to return about €775 million in the form of the special payout after selling Syktyvkar to Sezar Invest LLC in October. This translates to the special dividend of €1.60 per share.
At a general meeting held on Monday, the company said shareholders had endorsed the special dividend and the share consolidation.
The packaging firm confirmed early in December it had received 80₽ billion, about $888.8 million, from the sale of Syktyvkar, its last remaining facility in Russia.
The total sum includes the two remaining instalments in November and December, totalling 23₽ billion in aggregate. The proceeds had all been converted into euros.
Back in July, Mondi sold its three Russian packaging converting operations to Gotek Group for €30.4 million.
The net proceeds from the sale of Syktyvkar sold and the three converting operations amount to about €775 million.
Mondi first announced in March 2022 it was assessing all options for its interests in Russia after Moscow launched an invasion of Ukraine the previous month.
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