CORRECTION - IBS Group Holding Limited: IBS Group Recommends Dividends for the Year Ended March 31, 2011
IBS Group Holding Limited (IBSG:GR) recommends dividends for the year ended March 31, 2011 (2010 Financial Year)
On August 3, 2011, the Board of Directors of the IBS Group Holding Limited ("IBS Group") have recommended a dividend of US$0.20 per share to be paid for the FY2010 in order to further allow Company's shareholders to participate in its strong financial performance.
This distribution is subject to approval by shareholders at the Annual General Meeting on September 2, 2011. The record date for dividends is 17 August 2011.
Anatoly Karachinsky, President of IBS Group, commented: "While remaining on the growth path, IBS Group has decided to pay dividends for a second year in a row on the back of solid 2010 results. Moreover, our Board of Directors has recommended increasing dividend payments by 33% in comparison with 2009 in order to allow shareholders to benefit from Company's success. Our dividend policy reflects Group's commitment to sustainable increase in shareholders' value"
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IBS Group is a leading software development and IT services provider in Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it offers a wide variety of information technology services, such as software development, IT outsourcing, business and IT consulting, business applications implementation. IBS Group is headquartered in Russia and has business operations in Russia, Canada, Germany, Romania, Poland, Switzerland, the UK, Ukraine, the USA, Vietnam and Singapore. IBS Group employs more than 7,355 people worldwide.
IBS Group's Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.DE). IBS Group is majority-owned by management with portfolio investors holding 35% of the Group's share capital. For more information on IBS Group, please visit http://www.ibsgr.com
Investor contacts:
Dmitry Ivanov
Investor Relations Director
tel: +7-495-967-8000
fax: +7-495-967-8099
mob: +7-916-618-4034
SOURCE IBS Group Holding Limited
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