Support The Moscow Times!

MTS Profit Up 74%

MTS reported Wednesday a forecast-beating 74 percent jump in third-quarter net profit and said it plans to hike dividends by at least 25 percent in 2012 to 2014.

MTS, part of services conglomerate Sistema, said net profit totaled $630 million, boosted by a $100 million foreign exchange gain on its debt, compared with a Reuters poll forecast of $527 million.

The company said it would propose a hike of at least 25 percent in its dividends from 2012-2014 profits to more than 18.3 rubles ($0.58) per share a year against 14.7 rubles paid in 2011. The total three-year payout would thus amount to 114 billion rubles, up from 91 billion in 2009-2011.

(Reuters)

Related articles:

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.