CTC Media announces intention to pay dividends in 2011

CTC Media announces intention to pay dividends in 2011

Modern Times Group MTG AB (publ.) (‘MTG' or ‘the Group'), the
international entertainment broadcasting group, notes that CTC Media,
Inc. (‘CTC Media') has today announced its intention to pay aggregate
cash dividends of USD 100 million in 2011 in four quarterly instalments.
The first instalment equals USD 0.16 per share, or a total of
approximately USD 25 million, and has been approved by the CTC Media
Board of Directors. It will be paid on or about 31 March 2011, with a
record date of 1 March 2011.

MTG holds 60,008,800 shares in CTC Media, which represents 38.2% of the
issued and outstanding share capital in the Company. The Group therefore
expects to receive USD 9.6 million in cash dividends from CTC Media on
or about 31 March 2010, and dividends of approximately USD 38.2 million
for the full year 2011.

CTC Media paid four quarterly cash dividends totalling USD 80 million in
2010, including a USD 50 million dividend in the fourth quarter. The
Group therefore received dividend payments totalling USD 31 million (SEK
216 million) during 2010.

 

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For further information, please visit www.mtg.se (http://www.mtg.se/) or
contact:

Hans-Holger Albrecht, President & CEO
Tel: +46 (0) 8 562 000 50 

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Jacob Waern / Matthew Hooper
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Media Enquiries:
Bert Willborg
Tel: +44 (0) 791 2280 850
Email: bert.willborg@mtg.se (bert.willborg@mtg.se)