Rosneft to More Than Double Dividend on 2011 Profit, Sechin Says
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OAO Rosneft, Russia’s biggest oil producer, plans to more than double planned dividends, boosting the payout to 25 percent of last year’s profit, following an order from President Vladimir Putin.
State-run Rosneft will increase total dividends to 7.53 rubles a share for 2011, Chief Executive Officer Igor Sechin said at today’s annual meeting in St. Petersburg. The board had recommended 3.45 rubles a share in April. The additional payout of 43.2 billion rubles ($1.3 billion) will go to the board for approval, said Dmitry Avdeev, a company vice president.