MOSCOW, April 26 Russian telecoms operator
Rostelecom said on Friday its board had recommended an 8.17
billion rouble ($261.5 million) 2012 dividend against around 15
billion roubles for 2011, after deciding to allocate more money
to business development.
The state-controlled company plans to pay 4.1
roubles per preferred share and 2.4 roubles per ordinary share,
it said in a statement.
The total amount to be paid in 2012 dividends represents 25
percent of Rostelecom's net profit last year under Russian
Accounting Standards, or 23.2 percent of net profit calculated
to International standards.
For 2011, it had paid around 46 percent of the yearly net
profit in accordance with Russian Accounting Standards and 32.5
percent of net profit under IFRS.
"The Board of Directors supported the management's
initiative to keep a substantial portion of the Company's net
profit for the Company's development by allocating funds for the
use of new technologies and the modernising of network
infrastructure to improve the Company's competitiveness and
guarantee Rostelecom's technological leadership within the
shortest timeframe," board chairman Ivan Rodionov said in the
($1 = 31.2412 Russian roubles)
(Writing by Maria Kiselyova; editing by Keiron Henderson)