UPDATE 1-CTC Media to boost year dividend payout with Q4 hike

* The board has declared a further dividend of $0.32/share

* Paid $0.07/share for Q3 and $0.065/share for Q2, Q1

* 2010 dividend payout to total $80 mln

* Sees 2010 sales rising 13 percent in roubles

(Adds comments on dividends, details, background)

MOSCOW, Nov 3 (BestGrowthStock) – CTC Media (CTCM.O: ), Russia’s
biggest broadcaster outside state control, is to raise its
dividend payout for the fourth quarter amid recovering
advertising sales and prices.

“Our financial position continues to strengthen with
increasing cash balances and no debt outstanding, and, the board
of directors has now declared a further dividend of
approximately $50 million to be paid in the fourth quarter,”
Chief Executive Anton Kudryashov said in a statement.

The fourth-quarter payout will take total dividends for 2010
to $80 million, which is twice the amount that was originally
planned, the company said.

It has already paid $30 million in the first nine months of
the year, and the expectation was for it to pay $10 million for
the final quarter of 2010. No dividend was paid in 2009.

“The intention is to continue to make quarterly dividend
payments, and for the total amount of dividends paid each year
to increase in line with the performance of the business and
subject to the ongoing evaluation of the investment
opportunities available to us,” Kudryashov said.

The company, whose shareholders include Sweden’s Modern
Times (MTGb.ST: ) and Russian billionaire Mikhail Fridman’s Alfa
Group, also said it expected revenue to rise 13 percent in
rouble terms in 2010.

Sales rose 17 percent in the third quarter to $125.3
million, CTC said in the statement, while expenses grew by an
outpacing 23 percent to $88 million.

In the full year expenses are seen rising 20 percent due to
higher investments, stock-based compensation expenses and the
development of the internal advertising sales house.

The company, which runs independent TV and production
companies in Russia and other former Soviet states, also said
its third quarter net profit fell 6 percent on year to $24.3
(Reporting by Anastasia Teterevleva; Writing by Maria
Kiselyova; Editing by Greg Mahlich)

UPDATE 1-CTC Media to boost year dividend payout with Q4 hike