CFO: Market-guided Rostelecom strives to raise yield of shares

MOSCOW, Nov 10 (PRIME) -- Russian telecom and digital company Rostelecom will watch the market and is determined to raise the share yield when deciding on dividends under its dividend policy until 2023, Senior Vice President and Chief Financial Officer Sergei Anokhin said late on Tuesday.

On April 19, the board of directors approved new Rostelecom’s dividend policy for 2021–2023 financial years – the company will try to pay at least 5 rubles per ordinary share and at least 5% more per preferred share than in the previous reporting year.

“As the management, we’ll recommend to the board of directors payment of 6 rubles per share. Speaking about further steps, and our dividend policy does stipulate annual progression, and we won’t deviate from the wording, but they offer a minimum rise but do not limit the maximum,” Anokhin said during a conference call.

“Accordingly, we’ll be guided by the market, by our will to raise the yield of our shares, which is supported by the growing financial results in the form of the net profit and generated cash flow.”

 (71.2866 rubles – U.S. $1)

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