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Articles & publications
04.06.2010
Government approves directive for Svyazinvest’s 2009 dividends – sourceRIA Novosti
The Government of the Russian Federation has approved a directive according to which state-controlled telecommunications holding Svyazinvest is to allocate 25% of its 2009 net profit for dividends, RIA Novosti learned Thursday from a source at one of the relevant agencies.
“The directive has been signed. The state will receive 25% of Svyazinvest’s net profit”, a source at the agency pointed out.
A source at the Board of Directors of the holding confirmed this information.
As reported earlier by the general director of Svyazinvest Evgeny Yurchenko, the total amount of payouts could amount to about RUR 100 mln.
The 2009 RAS net profit of Svyazinvest (the holding’s parent company) amounted to RUR 349.867 mln, which is 31.9% less than in 2009 when it was RUR 514.075 mln.
In 2008 Svyazinvest did not pay out any dividends, allocating all of its profit to raise shareholder capital.
The main shareholder of Svyazinvest is the state, which is represented by the State Property Management Agency (75% minus one share). The remainder of shareholder capital (25% + one share) is split between Comstar-UTS (17.31%) and MGFTS Finance SA (7.69%). As part of the asset exchange between the state and AFK Sistema a blocking stake in the holding is to be assigned to state ownership.
The charter capital of Svyazinvest consists of 19,518,337,022 common shares with par value of RUR 1.
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