The board of directors at Russian fixed-line teleco Centertelecom has recommended raising dividend payments by around 77 percent for the financial year of 2007. Centertelecom said in a statement the board had proposed a dividend of RUB 0.355 (USD 0.014) per common share and RUB 0.691 per preference share.
That compares with 0.20 roubles and 0.39 roubles paid in 2006, respectively.
Centertelecom said the total dividend payout would amount to RUB 923.21 million (USD 38.72 million). The company’s shareholders will vote on the proposal on 25 June.
Centertelecom, which services Central Russia, is 38 percent owned by state-controlled telecoms group Svyazinvest.