27 Jun 2011 15:35

Sistema to pay 0.26 rubles div for 2010

MOSCOW. June 27 (Interfax) - Shareholders in Sistema at their AGM accepted a dividend of 0.26 rubles a share for 2010, the oil-to-telecoms holding said in a statement.

The overall payout will be 2.5 billion rubles.

Sistema paid 0.055 rubles a share or 531 million rubles in total for 2009, but no dividend for 2008. The company has 9.65 billion issued ordinary shares, par value 0.09 rubles each. Its founder and board chairman, Yevgeny Yevtushenkov, owns 64.1812%, and 19% of the shares trade on the LSE.

Net profit fell 44.1% last year to $918.7 million.

Sistema's dividend policy allows the company to pay up to 40% of annual profit to US GAAP to shareholders. Yevtushenkov has said this might be revised upwards.