OREANDA-NEWS. Rostelecom OJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia's national telecommunications operator, today announces that following its AGM, which was held on June 30, 2014, Rostelecom confirms that a dividend of approximately RUB 3.11-3.12 per ordinary share is to be paid out to shareholders.

The ordinary share dividend payout forms part of Rostelecom's combined ordinary and preferred share payout of RUB 8.824 billion, or 25% of 2013 RAS net profit and 37% of 2013 net profit in accordance with International Financial Reporting Standards (“IFRS”). A dividend of RUB 4.848555414552 is payable per preferred share.

The dividend per ordinary share is calculated as follows: the total sum of RUB 8.824 billion, excluding the accrued dividends on preferred shares, divided by the amount of Rostelecom ordinary shares outstanding as at July 14, 2014 (excluding treasury shares on Rostelecom's balance sheet).

The number of treasury shares as of the date of AGM was 163,344,917 ordinary shares and 33,217,816 preferred shares, which implies an ordinary share dividend payout of RUB 3.11-3.12..

A record date of July 14, 2014 has been set to entitle shareholders to receive dividends for 2013.