MOSCOW, April 11, 2016 /PRNewswire/ --
Mobile TeleSystems PJSC
("MTS", the
"Company" or "the
Group" - NYSE: MBT; MOEX: MTSS), the leading
telecommunications provider in Russia and the CIS, announces that the
Board of Directors ("the
Board") at a meeting on April 8, 2016, confirmed the
Company's new dividend policy and
recommended approval of dividend payments for
2015 fiscal year at the annual general meeting of
shareholders (AGM) to be held on
June 23, 2016.
Under the new dividend policy, management sets a target payout
of RUB 25.0 - 26.0 per ordinary MTS
share (RUB 50.0 - 52.0 per ADR) per
calendar year. The policy guarantees a minimum payout of
RUB 20.0 per ordinary MTS share (or
RUB 40.0 per ADR). The new policy
will cover 2016 - 2018.
Payments will continue to be made on a semi-annual basis.
Because the Company has long sought to more equally distribute
dividends throughout the year, the Board recommended that an annual
general meeting of shareholders ("AGM") approve annual dividends of
RUB 14.01 per ordinary MTS share
(RUB 28.02 per ADR) or a total of
RUB 28.0 bln based on the full-year
2015 financial results. In accordance with the new dividend policy,
the Board will review proposals for an interim dividend in Fall
2016.
In addition, the Board has tasked management to consider the
advisability of a share repurchase program as an additional way to
create further shareholder value. As part of such a program, the
Group could allocate up to RUB 30 bln
to be spent over the next three years on the repurchase of shares.
Such a program would require further approvals by the Board.
The full text of the new dividend policy is available here:
http://www.mtsgsm.com/information/dividends/
The registrar of shareholders, which are entitled to participate
in the AGM, will be set for May 6,
2016. In addition, the Board also recommended that the AGM
set the record date for shareholders entitled to receive dividends
for the 2015 fiscal year for July 5,
2016.
Furthermore, the Board took the following decisions:
- Set June 23, 2016, as the date
for the AGM;
- Approval of the agenda for the AGM, which will include approval
of the Company's annual report, financial statements and statement
of profit and loss for fiscal year 2015; composition of the
Company's Board of Directors and Audit Committee; approval of the
Company's charter, revised regulations of the Company's Board of
Directors, and confirmation of the Company's Auditor;
- Confirm procedures surrounding the preparation and organization
of the AGM;
- The nominations of Mr. Kirill
Dmitriev, formerly Director, Macro-Region Moscow, to the
position of Vice President, Sales and Services, and Member of the
Management Board, and Mr. Igor
Egorov, Director, Macro-Region "Center', to the Management
Board, following the departure of Mr. Vadim
Savchenko, Vice President, Sales, from the Company,
effective May 17, 2016; and
- Approval of certain related-party transactions.
For a complete disclosure of decisions made by the Board, please
click here:
http://static01.mts.ru/uploadmsk/contents/1762/sf_reshenia_sd_08_04_2016.pdf
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Mobile TeleSystems PJSC ("MTS" - NYSE:MBT; MOEX:MTSS) is the
leading telecommunications group in Russia, Central and Eastern Europe. We provide wireless
Internet access and fixed voice, broadband and pay-TV to over 100
million customers who value high quality of service at a
competitive price. Our wireless and fixed-line networks deliver
best-in-class speeds and coverage throughout Russia, Ukraine, Armenia, Turkmenistan, Uzbekistan and Belarus. To keep pace with evolving customer
demand, we continue to grow through innovative products,
investments in our market-leading retail platform, mobile payment
services, e-commerce and IT solutions. For more information, please
visit: http://www.mtsgsm.com.
* * *
Some of the information in this press release may contain
projections or other forward-looking statements regarding future
events or the future financial performance of MTS, as defined in
the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. You can identify forward looking
statements by terms such as "expect," "believe," "anticipate,"
"estimate," "intend," "will," "could," "may" or "might," and the
negative of such terms or other similar expressions. We wish
to caution you that these statements are only predictions and that
actual events or results may differ materially. We do not undertake
or intend to update these statements to reflect events and
circumstances occurring after the date hereof or to reflect the
occurrence of unanticipated events. We refer you to the documents
MTS files from time to time with the U.S. Securities and Exchange
Commission, specifically the Company's most recent Form 20-F. These
documents contain and identify important factors, including those
contained in the section captioned "Risk Factors" that could cause
the actual results to differ materially from those contained in our
projections or forward-looking statements, including, among others,
the severity and duration of current economic and financial
conditions, including volatility in interest and exchange rates,
commodity and equity prices and the value of financial assets; the
impact of Russian, U.S. and other foreign government programs to
restore liquidity and stimulate national and global economies, our
ability to maintain our current credit rating and the impact on our
funding costs and competitive position if we do not do so,
strategic actions, including acquisitions and dispositions and our
success in integrating acquired businesses, potential fluctuations
in quarterly results, our competitive environment, dependence on
new service development and tariff structures, rapid technological
and market change, acquisition strategy, risks associated with
telecommunications infrastructure, governmental regulation of the
telecommunications industries and other risks associated with
operating in Russia and the CIS,
volatility of stock price, financial risk management and future
growth subject to risks.
* * *
For further information, please contact in Moscow:
Joshua B. Tulgan
Director, Department of Corporate Finance and Investor
Relations
Mobile TeleSystems PJSC
Tel: +7-495-223-2025
E-mail: ir@mts.ru
Learn more about MTS. Visit the official blog of the Investor
Relations Department at http://www.mtsgsm.com/blog/
SOURCE Mobile TeleSystems PJSC (MTS)