Core owner Yevtushenkov asks Sistema to pay him no Jan–Sep divs

MOSCOW, Jan 23 (PRIME) -- Vladimir Yevtushenkov, chairman of the board of directors and an owner of 64.18% in multi-industry holding Sistema, has asked the company to pay him no dividends for January–September 2017, it said in a statement on Tuesday.

“Sistema…announces that it has paid an interim dividend for January–September 2017 of 2.349 billion rubles. Dividends totaling 4.213 billion rubles were not paid to the majority shareholder and Chairman of the Board of Directors, Vladimir Evtushenkov, based on his written request,” the company said.

The shareholders of the company approved payment of 0.68 rubles per share, or 13.6 rubles per global depositary receipt (GDR) – a total of 6.562 billion rubles – in dividends for January–September on November 29. The record date for the dividends was set at December 8.

The payment corresponded to a dividend yield of 6% annually calculated basing on the weighted average price of Sistema’s shares on the Moscow Exchange for the period. Sistema’s dividend policy says that the sum of interim and final dividends for a year should either equal 1.19 rubles per share or to a dividend yield of 6% annually to the weighted average price of Sistema’s shares for the year.

(56.6261 rubles – U.S. $1)

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