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Articles & publications
31.05.2010
Central Telegraph increases common dividends by 88% and prefs by 25.5%Interfax
The shareholders of Central Telegraph (RTS: CNTL) (CT) passed a resolution at its annual shareholders meeting on Friday to pay out 2009 dividends equal to RUR 0.166631 per common share and 0.333262 on preferred shares, the company reported to Interfax in a statement.
The aggregate amount of payouts on common shares will be equal to RUR 27.69 mln, and RUR 18.459 mln will go for preferred shares. The total amount of dividends will be more than RUR 46.15 mln, which is equal to 25% of the company’s 2009 RAS net profit, which is equal to RUR 184.59 mln.
In 2008 CT paid out RUR 0.088509 on common shares and RUR 0.265527 on preferred shares. In this way, Central Telegraph’s dividends on common shares increased by 88%, while payouts on preferred shares went up by 25.5% this year. Shareholders also elected a new lineup of the board of directors. Seats on the board were retained by the general director of Svyazinvest Evgeny Yurchenko, his first deputy general director Alexander Provotorov, as well as deputy director of the department of corporate governance and legal support of Svyazinvest Alla Grigorieva, former telecommunications minister Vladimir Bulgak, and representative of the State Property Management Agency Viktoria Chernousova.
There were two changes in the lineup: Mikhail Leschenko, who last year left his position as advisor to the RF telecommunications ministry, and accepted a position as deputy general director of Svyazinvest, was replaced by advisor to the head of the Telecommunications Ministry Denis Afanasyev. The position of another minister’s advisor, Sergey Lukashov, was assigned to department of Rossvyaz Alexander Mushkarin.
Central Telegraph’s auditor was again approved as BDO.
Central Telegraph provides fixed-line telecommunications services, broadband Internet access (under the QWERTY brand), document transmission and television.
The charter capital of Central Telegraph has a total value of RUR 221,556,000. In addition, 166,167,000 common and RUR 55,389,000 class A preferred shares were issued with a par value of RUR 1.
Svyazinvest owns 71.83% of CT’s common shares (38.25% of its charter capital), the State Property Management Agency holds 22% of its charter capital, and North-West Financial Company has 10.59% of its charter capital.
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