Official says Gazprom Neft to raise ’18 divs significantly

MOSCOW, Feb 21 (PRIME) -- Russian oil producer Gazprom Neft will boost 2018 dividends compared with 2017, Alexei Yankevich, deputy CEO for economy and finance, said in a conference call on Thursday.

“We can say certainly now that dividends for 2018 will significantly exceed the level of dividends of 2017,” Yankevich said.

CEO Alexander Dyukov said in January that the company would increase dividends for 2018, probably to 35% of its net profit.

Gazprom Neft paid 71.1 billion rubles in dividends for 2017, which accounts for 28.1% of the net profit under International Financial Reporting Standards (IFRS).

The net profit attributable to the shareholders rose 48.7% to 376.7 billion rubles in 2018, as calculated under IFRS.

Gazprom owns 95.68% in Gazprom Neft.

(65.8568 rubles – U.S. $1)

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