Surgutneftegas Board Proposes Record Preferred-Share Dividend

OAO Surgutneftegas, Russia’s fourth- largest oil producer, has recommended paying a record dividend of 2.15 rubles ($0.07) per preferred share for 2011.

The company’s board proposed paying 0.6 rubles per common share, according to a May 18 regulatory filing by the company. Surgut paid 1.18 rubles per preferred share and 0.5 ruble per common share in 2010.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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