Russia's MRSK to raise 2011 dividends by 40 pct

MOSCOW Fri May 25, 2012 1:52am EDT

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MOSCOW May 25 (Reuters) - Russian grid firm MRSK may increase 2011 dividends for preferred shares by 40 percent, the company said in a statement late on Thursday.

The board of holding group for electricity grids covering more than 2 million kilometres across Russia, recommended shareholders to approve a payout of 0.07 roubles per each preferred share in last year's dividends.

For 2010, MRSK paid 0.05 roubles per preferred share. Shareholders are expected to approve the recommendation on upcoming annual meeting on June 30.

Igor Sechin, Russia's former deputy prime minister, earlier this month proposed merging MRSK with the Federal Grid Company (FSK), operator of the country's largest electricity transmission grid network. (Reporting by Anastasia Lyrchikova, writing by Katya Golubkova)

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