Rostelecom Allocated 25% of the Net Profit to Payment of Dividends
OREANDA-NEWS. Rostelecom (NYSE: ROS; RTS, MICEX: RTKM, RTKMP), Russia’s national long-distance telecommunications operator, today announced the results of its Annual General Shareholders’ Meeting (AGM) held on June 16, 2007.
At the AGM, shareholders voted to approve the Company’s annual report, annual financial statements in accordance with Russian Accounting Standards (RAS), including profit and loss statement of the Company, as well as distribution of profit for 2006 fiscal year as follows:
- RUB 5,388,883,000 or 75% of net profit to increase the Company’s equity;
- RUB 1,796,256,000 or 25% of net profit to be distributed as dividends for 2006.
The annual dividends for 2006 were declared as follows:
- RUB 2,9589 per preferred share to be disbursed starting from July 15, 2007 to December 15, 2007.
- RUB 1,4790 per ordinary share to be disbursed starting from July 15, 2007 to December 15, 2007.
Ernst and Young LLC was approved as the Company’s external auditor for 2007 fiscal year.
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