Yandex (YNDX) , Russia's largest Internet firm, today increased its sales outlook for this year after settling a dispute with Alphabet's (GOOGL) Google regarding product distribution via the Android operating system, Reuters reports.
Google confirmed a settlement with Yandex on April 17, promising to stop mandating manufacturers of Android-based devices to pre-install its search engine and other applications.
Yandex expects the settlement to "open the door to market share gains on mobile (devices) in 2017 and beyond," CEO Arkady Volozh said.
The firm now expects 2017 revenue growth of between 17% and 20%, an increase from February's projections of growth of between 16% and 19%.
Yandex also said it was not ruling out issuing its first dividend payout at one of its meetings this year.
"Clearly we do see an increasing confidence about the overall economic backdrop," Yandex CFO Greg Abovsky said about the prospect of a dividend payout.
Shares of Yandex were higher over 7% during mid-morning trading on Thursday.
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