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Megafon pays dividends worth $277 mln from profits of previous years — operator

It is also reported that Megafon shareholders approved dividends for the first half of 2021 in the amount of $1.2 per ordinary share

MOSCOW, August 21. /TASS/. Megafon paid dividends from the profit of previous years in the amount of 26 billion rubles ($277 mln), according to the Russian mobile operator’s report.

"On April 20, 2023, the annual general meeting of the company's shareholders approved the payment of dividends in the amount of 26 billion rubles, or 41.94 rubles ($0.4) per ordinary share, based on the profit of previous years," the report says. Dividends were paid on April 20.

Prior to this, Megafon shareholders approved dividends for the first half of 2021 in the amount of 112.9 rubles ($1.2) per ordinary share. In total, 69.9 billion rubles ($744 mln) were allocated for payments from retained earnings of previous years. No dividends were paid for 2021.

According to IFRS, the net profit of Megafon in January-June 2023 amounted to 26.9 billion rubles ($287 mln).

Megafon is a Russian telecommunications company providing cellular communication services. USM Group is the largest shareholder of the company.