MTS shares fall more than 5% on new dividend policy announcement
The shares of MTS at the auction of the Moscow Exchange at 11:21 fell by 5.5% - to 188.9 rubles. per piece. Thus, MTS quotes reacted to the decision of the Board of Directors to update the dividend policy.
Shares of MTS at the auction of the Moscow Exchange at 11:21 fell by 5.5% to 188.9 rubles. per piece. Thus, MTS quotes reacted to the decision of the Board of Directors to update the dividend policy.
Now the company will return to shareholders up to 20% of annual OIBDA (operating profit before depreciation) through dividends, as well as through buybacks. The dividends will be allocated 70% of the total return of value to shareholders, that is, up to 14% of OIBDA for the reporting period. The remaining 30% will be allocated to buyback. The minimum target value return to shareholders is RUB 70 billion per calendar year.
