Press release
Nizhny Novgorod, August, 2009: VolgaTelecom (RTS: NNSI/NNSIP, ÌICEX: VTEL/VTELP, ÀDR: VLGAY) has paid out dividends on its class A preferred nominal non-documentary shares.
The total amount of the payout on preferred shares as of August 7, 2009 stood at Rub 278 mln. The amount of dividends accrued per one preferred share is Rub 3.60073. Dividends were paid out to shareholders in cash.
The amount of dividends and the deadline for their payout was approved by the annual general shareholders meeting of VolgaTelecom on June 8, 2009. The amount of dividends accrued on preferred shares totaled Rub 295 mln. The failure to fulfill obligations on dividend payouts in full was due to the failure of shareholders to appear in the issuer’s office to pick up their cash, and also because of incorrect or incomplete data on bank accounts and mailing addresses.
