OREANDA-NEWS. Rostelecom (NYSE: ROS; RTS and MICEX: RTKM, RTKMP), Russia’s national long-distance telecommunications operator, today announced the decision of the Company’s Board of Directors to hold the Annual General Shareholders’ Meeting to discuss 2006 results.

The Board of Directors has recommended the following annual dividends for 2006 to the Annual General Shareholders’ Meeting:

• RUR 2.9589 per preferred share. The total amount of dividends to be paid to holders of preferred shares will amount to RUR 718.5 million or 10.0% of 2006 RAS net profit;
• RUR 1.4790 per ordinary share. The total amount of dividends to be paid to holders of ordinary shares will amount to RUR 1,077.7 million or approximately 15.0% of 2006 RAS net profit;
• The total amount of the proposed dividends for 2006 is RUR 1,796.2 million. The percentage of the Company’s net profit available for 2006 dividends increased by 2.4% year-on-year, and amounted to 25% of total net profit.

Holders of the American Depositary Receipts will receive payment in accordance with the 1:6 ratio of ADR to ordinary shares. ADR holders will receive the dividend in US dollars through their usual financial intermediary.