Deputy PM orders Rosneftegaz to pay 50% of profit in 2015 divs

MOSCOW, May 4 (PRIME) -- Deputy Prime Minister Arkady Dvorkovich has signed a ruling ordering state energy holding Rosneftegaz to pay 50% of its net profit in dividends for 2015, Dvorkovich’s press secretary Aliya Samigullina told PRIME on April 30.

“Yes, he signed that yesterday,” she said.

On April 29, Rosneftegaz said that the company may fail to fulfill its key functions and to finance strategic projects due to the increase of the dividend payout.

Previously, Prime Minister Dmitry Medvedev signed a ruling that all state-run companies must pay 50% of their highest profit – under Russian Accounting Standards (RAS) or International Financial Reporting Standards (IFRS) – in dividends for 2015. But Rosneftegaz requested a presidential approval to pay only 25% of the RAS net profit for the year, or 18 billion rubles, in dividends.

(64.3334 rubles – U.S. $1)

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