UPDATE 1-CTC Media to boost year dividend payout with Q4 hike
* The board has declared a further dividend of $0.32/share
* Paid $0.07/share for Q3 and $0.065/share for Q2, Q1
* 2010 dividend payout to total $80 mln
* Sees 2010 sales rising 13 percent in roubles
(Adds comments on dividends, details, background)
MOSCOW, Nov 3 (Reuters) - CTC Media (CTCM.O), Russia's biggest broadcaster outside state control, is to raise its dividend payout for the fourth quarter amid recovering advertising sales and prices.
"Our financial position continues to strengthen with increasing cash balances and no debt outstanding, and, the board of directors has now declared a further dividend of approximately $50 million to be paid in the fourth quarter," Chief Executive Anton Kudryashov said in a statement.
The fourth-quarter payout will take total dividends for 2010 to $80 million, which is twice the amount that was originally planned, the company said.
It has already paid $30 million in the first nine months of the year, and the expectation was for it to pay $10 million for the final quarter of 2010. No dividend was paid in 2009.
"The intention is to continue to make quarterly dividend payments, and for the total amount of dividends paid each year to increase in line with the performance of the business and subject to the ongoing evaluation of the investment opportunities available to us," Kudryashov said.
The company, whose shareholders include Sweden's Modern Times (MTGb.ST) and Russian billionaire Mikhail Fridman's Alfa Group, also said it expected revenue to rise 13 percent in rouble terms in 2010.
Sales rose 17 percent in the third quarter to $125.3 million, CTC said in the statement, while expenses grew by an outpacing 23 percent to $88 million.
In the full year expenses are seen rising 20 percent due to higher investments, stock-based compensation expenses and the development of the internal advertising sales house.
The company, which runs independent TV and production companies in Russia and other former Soviet states, also said its third quarter net profit fell 6 percent on year to $24.3 million. (Reporting by Anastasia Teterevleva; Writing by Maria Kiselyova; Editing by Greg Mahlich)
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