VimpelCom earlier announced a 75.6% year-on-year increase in net profits in 2005 to $615 million calculated to US GAAP.
Company CEO and General Director Alexander Izosimov said, "It is unlikely that we will pay dividends this year," but that all free resources should be invested in sustaining growth.
"We are continuing to invest, and when a slowdown in growth occurs, then we can talk about dividends... I will be very surprised if the board of directors recommends paying dividends," he said.
VimpelCom is best known for the Beeline trademark in Russia and Kazakhstan, and also has newly acquired operations in Ukraine, Tajikistan and Uzbekistan. Norwegian company Telenor, and Altimo, the telecom arm of Russia's Alfa Group, are both core shareholders.
VimpelCom estimates that its market share in Russia declined to 34.3% by the end of the year, down from 34.6% at the end of 2004.
