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CTC Media Inc announces declaration of dividend payment

Thursday, 6 Mar 2014 03:01am EST 

CTC Media Inc:Intends to pay cash dividends of $0.70 per share (or up to about $109 million in the aggregate) in 2014, a year-on-year increase of 11 percent compared to cash dividends of $0.63 per share (or $98.8 million in the aggregate) paid in 2013.Declares a cash dividend of $0.175 per share (or about $27 million in the aggregate) to be paid on or about March 28 to shareholders of record as of March 19 with further dividends anticipated in the remaining quarters of 2014.Although it is the Board's current intention to declare and pay further dividends in the remaining quarters of 2014, there can be no assurance that such additional dividends will in fact be declared and paid.Any such declaration is at the discretion of the Board and will depend upon factors such as CTC Media's earnings, financial position and cash requirements. 

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