Rosneft sets policy of paying 50% of IFRS net profit in divs

MOSCOW, Sep 4 (PRIME) -- Russian oil major has resumed a dividend policy of paying no less than 50% of a net profit calculated under International Financial Reporting Standards (IFRS) after paying 35%, as seen by PRIME on Monday in materials of the company.

The new policy also encompasses dividend payments at least twice a year.

On August 31, the board of directors recommended paying 3.83 rubles per share, or a total of around 40.6 billion rubles, in dividends for January–June, which accounts for around 50% of the net profit for the period. Shareholders are to consider the recommendation at an extraordinary general meeting on September 29.

The Russian government holds about 50% in Rosneft through state holding Rosneftegaz; U.K.’s BP owns 19.75% and QHG Shares Pte. Ltd has 19.5% stake, one share is owned by the Federal State Property Management Agency, the rest is free float.

(58.0557 rubles – U.S. $1)

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