Rostelecom shareholders confirm dividends at 25% of RAS net profit
MOSCOW. July 3 (Interfax) - Shareholders of OJSC Rostelecom confirmed at their annual meeting on Monday overall dividend payments for ordinary shares at 25% of net profit to Russian Accounting Standards (RAS), or 36.6% of net profit to International Financial Reporting Standards (IFRS).
Dividends on ordinary shares are calculated from 8.8 billion rubles minus dividends for preferred shares, excluding 1.02 billion rubles in shares on the company's balance. The remaining portion of funds - 7.8 billion rubles - will be distributed to ordinary share holders depending on the number of shares owned as of July 14, excluding treasuries, the company said.
The list of shareholders to receive dividends will be determined based on the register as of July 14.
Rostelecom did not confirm the exact size of dividends for ordinary shares since the amount of treasuries could change by July 14 depending on the results of a buyback of shares from shareholders who did not agree with how mobile assets were spun off.
Based on the given parameters, dividends could total 3.116 rubles per ordinary share. Rostelecom has confirmed this in a statement, saying that payments would total 3.11-3.12 rubles.