Dividends
Rostelecom shareholders are entitled to receive a percentage of the Company’s net profit in form of dividends. The amount of such dividends is determined at the Annual General Shareholders’ Meeting (AGM) upon the recommendation of the Board of Directors.
All decisions regarding dividend distribution are made at the AGM. This includes whether to pay dividends to each category of shares, as well as the amount and form of dividend payment.
The Company and its executive bodies guarantee timely and accurate payment of dividends to shareholders according to the decision made at the AGM based on the Company’s results for the applicable financial year. To ensure efficient payment of dividends the Company hires a registrar or a transfer agent.
On May 4, 2009 the Board of Directors approved Rostelecom’s restated version No.1 of Dividend Policy, which stipulates dividend calculation procedure, terms and payment periods, as well as procedures to determine the list of persons entitled to receive dividends.
Rostelecom’s Dividend Policy is aimed at improving the investment attractiveness of the Company and ensuring sustainable growth of its capitalization. It is based on the balance of the Company and shareholders' interests, as well as on respect of and compliance to shareholders' rights in accordance with the Charter of the Company, all applicable laws, rules and regulations.
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