Svyazinvest to transfer 307 M RUR to SkolTeh

Svyazinvest to transfer 307 M RUR to SkolTehSvyazinvest and Rostelecom plan to finance the endowment Fund of Skolkovo Institute of Science and Technology at the amount of 307 M RUR. This issue will be discussed by the next Svyazinvest Board of Directors.

Board of Directors of Svyazinvest instructed the management of the company to prepare proposals for funding the endowment fund of Skolkovo Institute of Science and Technology at the last Board of Directors meeting in June 19.

The Director of Svyazinvest External Communications Igor Pshenichnikov said to a ComNews reporter, that the amount of money recommended by the state to be transferred from Svyazinvest and Rostelecom to Skolkovo is 307 M RUR in equal shares. But he did not explain the purpose of the transfer. Russian President Dmitry Medvedev charged state-owned companies to finance the Skolkovo Fund in March 2012. State-owned companies will have to pay a total of 30 B RUR within three years.

As it was noted in March by Deputy Prime Minister Arkady Dvorkovich, state-owned companies, which formed their innovative development programs, will have transfer 1% of the programs to the endowment fund of Skolkovo Institute of Technology to be spent on scientific research and these allocations will form the fund. This is not a get-together event but an open mechanism, a network for research formation - emphasized the Deputy Prime Minister.

Arkady Dvorkovich, speaking about the amount of stock, said that the state-owned companies’ innovation development programs are estimated at 1 B RUR.

Arkady Dvorkovich said on Friday that they have enough money to pay dividends, therefore, the decision would be implemented, and it was finally discussed by company’s Board of Directors. As for the period of 2010, Svyazinvest allocated 25% of its net profit received from operating performance for that period to pay dividends estimated at 669 M RUR.