Russian Ruling Paves Way for VimpelCom ADR (VIP) Dividends

Russian Federal Antimonopoly Service (FAS) officials said today that the Russian government decided to withdraw its claims against Telenor East Invest II AS and Weather Investments II and relevant injunctions.

Commenting on the developments, analyst Igor Semenov of Deutsche Bank said, "The main implication of removal of the injunctions is that VimpelCom's Russian unit should then be able to upstream cash to VimpelCom Ltd."

In 2011, the company announced a payment of $0.35 per share. The company may also announced additional dividends for 2012.

"The company could distribute, on our estimate, $1.15 over the next three quarters or so, which implies a. yield of about 10.75%, which we believe is fairly attractive relative to many peers," said Semenov.

Deutsche Bank has a Hold rating on VimpelCom (NYSE: VIP) price target of $11.10.

For an analyst ratings summary and ratings history on VimpelCom click here. For more ratings news on VimpelCom click here.

Shares of VimpelCom closed at $10.69 yesterday.

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