OREANDA-NEWS. May 18, 2011. The Board of Directors of JSC Federal Grid Company of Unified Energy System (“Federal Grid” or the “Company”, Ticker: FEES) decided at its meeting on the 16th May 2011 to recommend to the Annual General Meeting (AGM) to be held on 19 June 2011 that Federal Grid will pay a pay a dividend for 2010.

The Board of Directors of Federal Grid recommends that the AGM approves a payment of the dividend at the rate of RUB 0.0020523650155 per ordinary share. It recommends that the dividend should be paid within 60 days from the date of approval.

The total amount of dividends distributable to shareholders for 2010 recommended by the Board of Directors of Federal Grid is c.RUB 2,578 m. It represents 10% of the Company’s net profit in 2010, according to RAS, excluding profit from the revaluation of financial investments, profit from recovery of accruals of allowance for doubtful debtors, and proceeds from the sale of shares and other assets.

The Company did not pay dividends for the financial years 2008 and 2009.