MegaFon board recommends no dividends for 2017
MOSCOW, May 17 (PRIME) -- The board of directors of MegaFon, one of RussiaТs major mobile operators, has recommended abstaining from paying dividends for 2017, according to the companyТs documents seen by PRIME on Thursday.
УTo recommend the annual general meeting (AGM) of shareholders not distribute the net profit received on results of 2017, not announce or pay dividends,Ф the statement read.
MegaFonТs adjusted net profit of the telecom segment decreased 29% in 2017 to 20.519 billion rubles, as calculated under International Financial Reporting Standards.
MegaFonТs shareholders will meet on June 29, and the register for the AGM will close on June 4.
For 2016, MegaFon paid 19.995 billion rubles in dividends, or 32.25 rubles per common share.
(62.3033 rubles Ц U.S. $1)