Dividends for 2008:
Comstar: on June 30, 2009 the AGM approved an annual dividend of approximately RUR 90.3 million, or approximately US$ 2.9 million, for the twelve months ended December 31, 2008, to be paid to holders of Comstar’s shares as at the record date of May 22, 2009. The dividend represents approximately 2% of Comstar’s consolidated net income for 2008 under US GAAP . The dividend, which amounts to a payment of RUR 0.22 per ordinary share, or approximately US$ 0.007 per Global Depositary Receipt (“GDR”), is due to be paid within 60 days of today’s AGM approval.
MGTS: on June 26, 2009 the AGM voted against the recommendation of the MGTS’ Board of Directors to pay an annual dividend for the twelve months ended December 31, 2008, by a majority vote (approximately 98%).
Dividends for 2007:
Comstar: on June 30, 2008 the AGM approved an annual dividend of approximately RUR 62.7 million, or approximately US$ 2.7 million, for the twelve months ended December 31, 2007, to be paid to holders of Comstar’s shares as at the record date of May 23, 2008. The dividend, which amounts to a payment of RUR 0.15 per ordinary share, or approximately US$ 0.0064 per Global Depositary Receipt (“GDR”), is due to be paid within 60 days of today’s AGM approval.
MGTS: on June 27, 2008 the AGM approved an annual dividend of approximately RUR 1.125 billion, or approximately US$ 48.0 million, for the twelve months ended December 31, 2007, to holders of MGTS shares as at the record date of May 24, 2008. The dividend, which amounts to a payment of RUR 4.7 per ordinary share (approximately US$ 0.2), and of RUR 46.98 per preferred share (approximately US$ 2.0), is due to be paid by the end of 2008. The total dividend payment to holders of ordinary shares will amount to approximately RUR 375.2 million (approximately US$ 16.0 million), which represents approximately 5% of MGTS’ net income for 2007 under Russian Accounting Standards (RUR 7.5 billion or US$ 319.7 million). The total payment to holders of preferred shares will amount to approximately RUR 750.1 million (approximately US$ 32.0 million) and represent approximately 10% of MGTS’ net income.
Dividends for 2006:
Comstar: on June 27, 2007 the AGM approved an annual dividend of approximately RUR 62.7 million, or approximately US$ 2.4 million, for the twelve months ended December 31, 2006, to be paid to holders of Comstar’s shares as at the record date of May 17, 2007. The dividend, which amounts to a payment of RUR 0.15 per ordinary share, or approximately US$ 0.0058 per Global Depositary Receipt (“GDR”), is due to be paid within 60 days of today’s AGM approval.
MGTS: on June 29, 2007 the AGM approved an annual dividend of approximately RUR 1.3 billion, or approximately US$ 51.5 million, for the twelve months ended December 31, 2006, to holders of MGTS shares as at the record date of May 12, 2007. The dividend, which amounts to a payment of RUR 8.75 per ordinary share (approximately US$ 0.34), and of RUR 39.77 per preferred share (approximately US$ 1.54), is due to be paid by the end of 2007. The total dividend payment to holders of ordinary shares will amount to approximately RUR 698.5 million (approximately US$ 27.0 million), which represents approximately 11% of MGTS’ net income for 2006 under Russian Accounting Standards (RUR 6.3 billion or US$ 245.3 million). The total payment to holders of preferred shares will amount to approximately RUR 635.0 million (approximately US$ 24.5 million) and represent approximately 10% of MGTS’ net income.
The AGM upheld the decision of the previous AGM, held on June 17, 2006, not to pay an annual dividend for the twelve months ended December 31, 2005.
Dividends for 2005:
Comstar: on June 30, 2006 the AGM approved the payment of an annual dividend of approximately RUR62 million (approximately US$ 2.3 million as at June 30, 2006) for the twelve months ended December 31, 2005, to holders of the Company's outstanding common shares as at the record date of May 15, 2006. The dividend, which amounts to a payment of RUR 0.14834 (US$0.00548 as at June 30, 2006) per common share, is due to be paid by October 1, 2006.
MGTS: on June 17, 2006 the AGM approved the decision not to pay an annual dividend for the twelve months ended December 31, 2005.