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TGC-1

January 11, 2011

Board of Directors of TGC-1 approves dividend policy

The Board of Directors of TGC-1, at its regular meeting, approved the dividend policy regulations of the Company, which defines the principles of distribution of Company’s profit.

The approved policy sets a corridor for dividend payout ratio at 5% to 35% of the net profit, provided the reserve fund of the Company is fully formed in accordance with Company’s Articles of association (5% of share capital). 35% to 95% of the profit is retained for the Company's investment purposes.

The calculation of the dividend is done based on the financial statements according to Russian accounting standards.

The dividend policy is aimed at increasing the investment appeal and market capitalization of the Company while maintaining the balance between short-term and long-term interests of shareholders.

 

 

 

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