Sibirtelecom to pay out RUB160 million dividend

2 Nov 2005

Siberia Telecom (Sibirtelecom), one of Russia’s ‘mega regional’ telecoms operators, says it plans to pay out an ordinary dividend of RUB160 million (USD5.6 million) for the full year 2005, ahead of a predicted 43% rise in annual turnover to RUB27 billion. FY 2005 EBITDA is expected to reach around RUB8 billion and net income around RUB2 billion. Sibirtelecom is majority owned by Russian telecoms giant Svyazinvest (38.23%), and is expected to be included in the planned privatisation of its parent next year. It operates in Siberia, an area covering 29% of Russia’s territory and containing 14% of its population. The group consists of Altaitelecom, Chitatelecom, Gorno-Altaitelecom and Tomsktelecom, as well as the respective Elektrosvyaz companies in Irkutsk, Kemerovo, Krasnoyarsky krai, Novosibirsk, Omsk and the Republics of Buriatia and Khakassia.

Russia, Svyazinvest