Rostelecomís board of directors recommends dividend payment for 2017

Print version

Moscow, Russia – May 18, 2018 Ė Rostelecom PJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its Board of Directors has approved an agenda for the Annual General Meeting (the “AGM”) as well as recommended dividend payment for 2017.

Rostelecomís Board of Directors has recommended that the AGM approves a 2017 dividend payment on both ordinary and preferred shares of RUB 14.050 billion, or 100% of IFRS[1] net profit. The dividends are to be paid as follows:

  • RUB 5.05 per Class A preferred share[2];
  • RUB 5.05 per ordinary share[3].

The record date for receiving dividends has been set at July 8, 2018.

Mikhail Oseevsky, President of Rostelecom:

ďThe level of dividends the BoD proposes to the AGM reflects the companyís actual performance in the reporting period. This year we intend to distribute the largest portion of free cash flow and the whole net profit generated in 2017. Thus, the company will pay to its shareholders more than RUB 45 billion within the three years of 2015-2017, as stipulated in the dividend policy for the mentioned period.

In March this year, we updated our strategy and dividend policy, setting a minimum threshold of RUB 5 for the dividend per one ordinary share. Consistent implementation of our new strategic goals will contribute to solid dividend payments to our shareholders in line with the new dividend policy as we aim to deliver a leading dividend yield across the industry.Ē

The AGM will be held on June 18, 2018 in the conference hall of the Radisson Slavyanskaya Hotel and Business Centre, Europe Square, 2, Moscow. The record date to participate in the AGM has been previously set by the BoD at May 24, 2018.

The 2017 AGM materials will be available on Rostelecomís official website

[1] International financial reporting standards
[2] The unrounded dividend per Class A preferred share is equal to RUB 5.045825249373.
[3] The unrounded dividend per ordinary share is equal to RUB 5.045825249373.