|
Articles & publications
27.05.2010
Svyazinvest expects to pay out 20% of FY09 "actual" net profit – about RUR 100 mlnInterfax
Svyazinvest expects to pay out 25% of its 2009 RAS net profit as dividends, the holding’s general director Evgeny Yurchenko told journalists.
He pointed out that at issue is “actual” profit which does not include the change in the share values of the holding’s subsidiaries. The total amount of payouts will amount to about RUR 100 mln, Mr. Yurchenko underscored.
According to earlier reports, the Telecommunications Ministry has recommended state companies to allocate at least 25% of net profit to dividend payouts in 2010. This proposal was approved at the meeting by First Vice Prime Minister Igor Shuvalov in March.
This principle was used in dividend payouts for 2006-2007, but last year telecommunications regulatory agencies abandoned the 25% net profit threshold due to the economic downturn. In its guidelines for 2010 dividend payments the ministry will take into account information on the use of net profit retained by the state company in 2009.
Parent company Svyazinvest has still not published its 2009 RAS financial statement.
Svyazinvest owns controlling equity stakes in Rostelecom and seven regional telecommunications operators – CenterTelecom (RTS: ESMO), North-West Telecom (RTS: SPTL), VolgaTelecom (RTS: NNSI), UTK (RTS: KUBN), Uralsvyazinform (RTS: URSI), Sibirtelecom (RTS: ENCO), Far East Telecom (RTS: ESPK) as well as Central Telegraph (RTS: CNTL), Giprosvyaz, Dagsvyazinform and financial company Svyaz.
At present, the holding is in the process of reorganization, during which RTOs are to be folded into Rostelecom by way of share conversion.
|
