Rosneft’s management to suggest 2020 divs in line with policy

MOSCOW, Feb 12 (PRIME) -- The management of Russian oil major Rosneft will suggest that the board of directors recommend dividends for 2020 in accordance with the dividend policy, First Vice President Didier Casimiro said in a conference call on Friday.

“You remember that we paid no interim dividends due to a net loss that Rosneft suffered in the first half of 2020, but thanks to a positive impact of acquisition and sale of assets connected to Vostok Oil, the company showed a positive financial result, and the management will recommend that the board of directors (recommend dividends for the full year of 2020 in complete accordance with our dividend policy,” he said.

Rosneft’s net profit attributable to dropped by 79.1% on the year to 147 billion rubles in 2020, as calculated under International Financial Reporting Standards (IFRS).

As of October 1, 2020, the core shareholders included state oil and gas holding Rosneftegaz with a 40.40% stake, BP Russian Investments Limited with a 19.75% stake, QH Oil Investment LLC with 18.93%, and RN-NeftKapitalInvest with 9.60%.

(73.7579 rubles – U.S. $1)

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