RAO UES board to decide on dividends on May 14

The board of directors of the Russian national energy grid RAO UES will hold a meeting on dividends for 2001 on May 14 and consider the proposed size of dividends - 0.26 rubles per common share and 0.1185 rubles per preferred share. A source in RAO UES specified in an interview with RBC that this size of dividends was proposed by the company's majority shareholder - the state. In the event the board approves this proposal, the total volume of dividend payments will reach about 1.67bn rubles ($54m) to holders of common shares and 245.9bn rubles ($7.88bn) to holders of preferred shares. This would be correspondingly 30 percent and 50 percent more as compared to dividend payments for 2000. The size and terms for dividend payments will be approved at a general annual meeting of RAO UES shareholders to be held on June 28, 2002.

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