OREANDA-NEWS. May 14, 2012. The Board of Directors of OJSC Mostotrest (hereinafter - Mostotrest or the Company) held a meeting in Moscow to consider issues pertaining to preparation of the Annual General Shareholders' Meeting.

The agenda of the Company's Annual General Shareholders' Meeting to be held in Moscow on June 27, 2012 includes approval of the annual report and annual financial statements, election of members of the Board of Directors and the Audit Committee, approval of the auditors and the amount of dividend.

The Board of Directors has preliminarily approved the Company's annual report and recommended to the General Shareholders' Meeting to pay 2011 dividend in the amount of RUB 7.10 per ordinary share of Mostotrest. The total amount of 2011 dividends proposed by the Board of Directors for approval by the General Shareholders' Meeting is RUB 2,003.730 million, a 2.4x increase against 2010 (2010: RUB 845.193 million). The shares will be marked ex-dividend on 17 May 2012.

"2011 was one of the most successful years for Mostotrest. We have posted impressive operating and financial results, which allow us to recommend to the General Shareholders' Meeting a dividend payment above the level approved in the Company's dividend policy", said Mostotrest CEO Vladimir Vlasov. "Based on 2011 results, we recommend to allocate 55% of the Company's IFRS net profit to dividends. We are optimistic about the prospects of Mostotrest, and a high level of dividend reflects our confidence in sustainability of the Company's business model."