Russia’s Lukoil says to pay 25% of IFRS net profit in divs

MOSCOW, Apr 25 (PRIME) -- Russian oil company Lukoil plans to amend its dividend policy to pay at least 25% of the net profit calculated under International Financial Reporting Standards (IFRS) in dividends, the company said in a statement on Monday.

The net profit used as the base for dividend calculation may be adjusted for one-time losses or revenue, Lukoil said.

“The board of directors has decided that development and approval of a new version of the dividend policy of Lukoil until the end of 2016 is reasonable,” according to the statement.

The payout growth will at least match inflation, Lukoil said.

Dividend payments will be prioritized in the cash flow allocation, it said.

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