OREANDA-NEWS. May 21, 2007. The Board of Directors of CenterTelecom, meeting on 10 May, decided to recommend to the Annual General Meeting of the company’s shareholders a dividend of RUR 0,38933 per preferred share type A and RUR 0,1999621 per ordinary share.
 
The dividends are recommended to be paid in cash in accordance with the following schedule:
by 17 August, 2007 on preferred type A shares
by 20 December, 2007 on ordinary shares

The formula is established by CenterTelecom’s Charter and Regulations on Dividend Policy. Following a significant increase in net profit in 2006 in comparison with 2005, the Board of Directors recommended increasing the proportion of net profit to be allocated for the payment of dividends on preferred shares by RUR 315,54 million. This is 290% more than the net profit allocated for the payment of dividends on ordinary shares for 2005. The Board recommended the portion of net profit allocated for the payment of dividends on preferred shares type A be RUR 204,78 million or 300% more than was paid on this category of share for 2005. If the Annual General Meeting of CenterTelecom shareholders approve these decisions of the Board, the total portion of net profit which will be allocated for payment of dividends for 2006 will triple in comparison with 2005 and will reach RUR 520,33 million.