MOSCOW, Mar 21 (PRIME) -- The board of directors of major Russian mobile operator MTS has approved a new dividend policy for 2019–2021, under which the company will increase dividends to at least 28 rubles per ordinary share, or 56 rubles per American depositary receipt (ADR), per year, the company said on Thursday in a statement.
Under the previous dividend policy, MTS paid 25–26 rubles per share, or 50–52 rubles per ADR, but no less than 20 rubles per share and 40 rubles per ADR. The total annual dividend payments amounted to 50–52 billion rubles, but no less than 40 billion rubles.
“Payments will continue to be made on a semi-annual basis. In determining actual dividends payout, the company will consider a number of factors, including cash flow from operations, capital expenditures and debt position,” the company said.
In accordance with the new dividend policy, the board will review proposals for an annual dividend in April and an interim dividend in July.
Multi-industry holding Sistema owns 45.47% of MTS’ capital.
(64.2803 rubles – U.S. $1)
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