OREANDA-NEWS. On 27 August 2008 was announced, that OJSC VolgaTelecom (RTS: NNSI/NNSIP, MICEX: VTEL/VTELP, АДР: VLGAY) completed the payment of dividends on its preferred shares.

Total amount of dividends paid on preferred shares accounted for RUR 308 438,670 thousand. The size of dividends accrued on one preferred share is RUR 4,0534. The dividends were paid in cash.

The resolution of the size of dividends and the time period of their payment was passed by annual general meeting of OJSC VolgaTelecom’s shareholders on June 24, 2008. The size of dividends accrued on preferred shares amounted to RUR 332 310,767 thousand. Non-performance of obligations to pay dividends in full is related to the non-appearance of shareholders in the issuer’s office for receiving dividends by cash, and also to incorrect or incomplete information on the requisites of the bank accounts of shareholders and their mailing addresses.