print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all COMSTAR - UTS press releases

COMSTAR - UTS

February 16, 2010

Board of Directors of MGTS recommends dividends payment on preferred shares

Moscow, Russia – February 16, 2010 – “COMSTAR – United TeleSystems” JSC (“Comstar” or “the Group”) (LSE: CMST), the largest integrated telecommunications provider in Moscow and 69 Russian cities, today announced that the Board of Directors (the “Board”) of Moscow City Telephone Network (“MGTS”) subsidiary, set the date for MGTS’s Extraordinary General Meeting of Shareholders (“EGM”) for March 26, 2010.  Comstar owns 69.93% of MGTS share capital (or 69.96% of total number of ordinary shares and 69.75% of total number of preferred shares).

The Board recommended dividends of approximately RUR 321.9 million, or approximately US$ 10.7[1]million, for the twelve months ended December 31, 2008 to holders of MGTS preferred shares as at the record date of February 15, 2010. The dividends represent approximately 10% of MGTS’s net income for 2008 under Russian Accounting Standards. The dividends, which amount to a payment of RUR 20.16 per a preferred share, or approximately US$ 0.67, are due to be paid within 60 days of the approval by the EGM. Preferred shares become non-voting upon dividend payment.

Earlier, in June 2009, MGTS AGM voted against the recommendation of the MGTS’ Board of Directors to pay an annual dividend for the twelve months ended December 31, 2008, by a majority vote (approximately 98%).


[1] Bank of Russia’s US$-RUB exchange rate as at February 16, 2010

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer