VimpelCom to pay USD 0.80 dividend per ADS or USD 1.3 billion in total
AMSTERDAM, Dec. 17, 2012 /PRNewswire/ -- "VimpelCom Ltd." ("VimpelCom", "Company" or "Group") (NYSE: VIP), a leading global provider of telecommunications services, announces today that the Supervisory Board has authorized the payment of a dividend of USD 0.80 per American Depositary Share ("ADS"). This amount includes USD 0.35 per ADS in relation to the Company's final 2011 results, bringing the total dividend in relation to the Company's 2011 results to USD 0.80 per ADS, which is in line with the Company's dividend guidelines*. The announced dividend also includes USD 0.45 per ADS in relation to the Company's interim 2012 results. Each ADS represents one common share. The total dividend payment amount will be approximately USD 1.3 billion.
The record date for the Company's shareholders entitled to receive the dividends has been set for December 27, 2012. The ex-dividend date is December 24, 2012. It is expected that the dividend will be paid by January 15, 2013. The Company will make appropriate tax withholdings of up to 15% when the dividend is paid to the Company's ADS depositary, The Bank of New York Mellon.
Jo Lunder , Chief Executive Officer comments:
"Our strategy of profitable growth and increasing cash flows has provided strong results in 2012, enabling us to announce today the payment of USD 0.80 dividend per common share or USD 1.3 billion in total. Going forward, we remain committed to pay annual dividends of at least USD 0.80 per common share, in line with our previously disclosed dividend guidelines."
* For a full dividend guideline please refer to www.vimpelcom.com
This release contains "forward-looking statements", as the phrase is defined in Section 27A of the Securities Act and Section 21E of the Exchange Act, relating to the timing and amount of future payments of dividends by VimpelCom. These forward-looking statements are based on management's best assessment of the Company's position and future market conditions and trends. The actual outcome may differ materially from these statements and there can be no assurance that VimpelCom will be able to pay dividends in the future as described in these statements. Certain factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in the Company's Annual Report on Form 20-F for the year ended December 31, 2011 and other public filings made by the Company with the SEC, which risk factors are incorporated herein by reference. The Company disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.
VimpelCom is one of the world's largest integrated telecommunications services operators providing voice and data services through a range of traditional and broadband mobile and fixed technologies in Russia, Italy, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic and Canada. VimpelCom's operations around the globe cover territory with a total population of approximately 780 million people. VimpelCom provides services under the "Beeline", "Kyivstar", "djuice", "Wind", "Infostrada" "Mobilink", "Leo", "banglalink", "Telecel", and "Djezzy" brands. As of September 30, 2012 VimpelCom had 212 million mobile subscribers on a combined basis. VimpelCom is traded on the New York Stock Exchange under the symbol (VIP). For more information visit: http://www.vimpelcom.com
SOURCE VimpelCom Ltd.
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