MOSCOW, May 6 (RIA Novosti) – The board of directors of Russia’s state-controlled oil giant Rosneft has recommended that 25 percent of the company’s net profit be allocated for dividend payouts for 2012, Rosneft said on Monday.
“The board … recommended that the annual general shareholders meeting adopt a resolution to pay dividends of 8.05 rubles [$0.25] per ordinary share, which constitutes 25 percent of the company’s IFRS net profit. A total amount of 85.3 billion rubles [$2.7 billion] will be spent on dividends,” Rosneft said in a statement.
The company’s annual general meeting of shareholders has been scheduled for June 20, 2013, with the shareholder register for dividend payouts closing on May 6.
Rosneft, which became the world’s largest publicly traded oil producer in March 2013 when it acquired 100 percent of the Russian-British joint oil venture TNK-BP, reported an IFRS net profit of 342 billion rubles ($11 billion) for 2012, up 7 percent from the previous year.
Rosneft’s 2011 dividend payouts, including additional dividend payments for the year, amounted to 7.53 rubles per share or 24.8 percent of the company’s IFRS net profit.
