OREANDA-NEWS. June 04, 2010. The Steering Committee of Svyazinvest (an advisory body which includes top managers of Svyazinvest and minority shareholders of RTOs and Rostelecom) at a meeting held on May 25, 2010, supported a proposal for the Group’s companies to pay out interim dividends for the first nine months of 2010.

During the discussion, members of the Steering Committee agreed with a proposal to recommend the boards of directors of the respective companies to set the date to close the register for the purpose of paying out dividends immediately after shares are bought back from shareholders which present their shares for buyback during the course of the reorganization of the Svyazinvest Group of companies.

The amount of dividends proposed for payout is equal to 10% of the net profit of the respective company for 9 months of 2010 for preferred shares, and 15% on common shares.

Members of the Steering Committee also reviewed information on the financial results of the Group’s companies for the first quarter of 2010, which was presented at a Svyazinvest management meeting.  Aggregate net profit for all seven of Svyazinvest’s RTOs for the first three months of 2010 exceeded the respective 2009 indicator by 204%.   According to the forecasts, the net profit of the Svyazinvest Group of companies for the first nine months of 2010 considerably exceeds the amount of the Group’s profit for all of 2009.   The attendees of the meeting noted the positive tendencies of the Svyazinvest Group of companies and voiced confidence that this trend would continue going forward.