Novatek to raise minimum target dividends to 50% of profit

MOSCOW, Dec 18 (PRIME) -- Russian independent gas producer Novatek has decided to raise the minimum target level of dividends to 50% of adjusted net profit calculated under International Financial Reporting Standards (IFRS) from 30%, the company said on Friday.

“Taking into account the high stability of Novatek’s operating and financial results, as well as the significant growth in the scale of the company’s activities, the company decided to increase the minimum target level of dividend payments from 30% to 50% of IFRS adjusted net profit,” Novatek said.

“The new dividend policy will help the company to raise its investment attractiveness and increase the total income of shareholders.”

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