Dixy Group to earmark 2009 net profit for company development

At its annual meeting, Russian retailer Dixy Group decided against paying dividends from RUB7 million (USD236,350) in net profit for 2009 and, instead, approve these funds going into the company's development. In addition, the shareholders approved a new version of the company's charter, regulation on shareholder meetings and the board of directors. The shareholders also approved a major transaction, in which Dixy Group could transfer up to RUB4 billion (USD135 billion) in loan funds to its subsidiaries.