Gazprom Neft says to continue paying interim dividends in 2020

MOSCOW, May 28 (PRIME) -- Russian oil company Gazprom Neft will continue paying interim dividends in 2020, Deputy CEO for Economy and Finance Alexei Yankevich said in a conference call on Thursday.

“We continue doing everything possible to ensure return on investment for the shareholders even during these difficult times in spite of an unprecedented slump of prices this year. You know that the management made a proposal, and the board of directors supported recommendation of paying 50% of the net profit in dividends for the second half of 2019. We did no reductions here, and we fulfill all liabilities that we undertook last year,” he said.

“Moreover, the company will continue the practice of paying interim dividends,” he said.

In April, the company’s board of directors recommended paying 37.96 rubles per share in dividends for 2019. Previously, the company paid 18.14 rubles per share, or a total of around 86 billion rubles, in dividends for January–June 2019, paying interim dividends for the first time since 2015.

Gas giant Gazprom owns 95.68% in Gazprom Neft.

(71.0635 rubles – U.S. $1)

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