Sistema Board Approves Dividend Payout Policy of 10% of Profit
The board of AFK Sistema, Russian billionaire Vladimir Yevtushenkov’s holding company, changed its dividend policy to pay out at least 10 percent of the company’s U.S. GAAP net income.
Sistema may also grant shareholders a special dividend of 10 percent of the net gain from any “large asset sale,” as determined by the board, the Moscow-based company said today in a statement. Dividends will not exceed net income to Russian accouting standards.
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