MOSCOW, September 15, 2014 - PIK Group (LSE: PIK), one of the leading Russian residential developers, announces that its Board of Directors recommended a dividend totaling RUB 2.75 billion as partial distribution of retained earnings for the preceding periods. The recommended dividend amounts to RUB 4.16 per ordinary share or global depositary receipt (GDR). 

Shareholder approval of the dividend is expected at the Company’s EGM which is scheduled for October 25, 2014. The record date for EGM participation is September 23, 2014. The Board has recommended November 5, 2014 as the dividend record date.