MOSCOW, Nov 13 (PRIME) -- Russian state-controlled telecom operator Rostelecom will only pay nine month dividends in 2020 because it needs to consolidate 42 billion rubles in January–March for the Tele2 Russia deal, CEO Mikhail Oseyevsky said during a conference call on Wednesday.
“Our strategy envisages continuation of the dividend policy so I would like to stress that (we confirm) all the basic principles… including (paying) at least 75% of net cash flow and at least 5 rubles per share... We will pay (the interim dividends for January–June) fully in the summer of 2020,” he said.
Rostelecom said earlier that its board of directors had approved an increase of a stake in mobile operator Tele2 Russia to 100% from 45%.
(63.8530 rubles – U.S. $1)
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