OREANDA-NEWS. April 26, 2010. The AGM of Soda Sterlitamak (RTS: SODD) received a recommendation from company BoD to allot RUB 1.5 billion to dividend payouts for 2009, or RUB 75.30 per each common and preferred share. April 7 was the cutoff date. The set dividend size implies an 11% yield on common shares and 17% on preferred shares.

The decision to pay generous dividends is positive and should have a favorable impact on the company’s investment appeal. Our estimate for Soda’s dividends had been more conservative: we had expected the company to allot just RUB 800 million to dividend payouts, the volume of its free cash position as of 9M2009. The actual dividend size has turned out to be twice as large as our forecast.