OREANDA-NEWS. May 31, 2010. At an AGM on June 30, Mostotrest will consider a dividend payout for 2009. The BoD has recommended a dividend of RUB 645 per common share with a par value of RUB 28, nearly double the payout (of RUB 323 per share) for 2008. The company intends to allot around 24% of net income for a dividend payout. The record date for shareholders entitled to participate in the shareholders meeting is set for May 25, 2010.

Despite a fairly low dividend yield of around 2.1%, we are upbeat on the company’s desire to continue with its dividend policy and its favorable attitude towards minority shareholders. The company is to consider a share split, which, in our view, should help raise its liquidity ahead of the possible IPO by the company in 2H2010.