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Russia to Allow Rosneft to Increase Dividends, Dvorkovich Says

Sept. 7 (Bloomberg) -- The Russian government plans to allow OAO Rosneft, the country’s biggest oil producer, to increase its dividend payments to 25 percent of net income, Deputy Prime Minister Arkady Dvorkovich said.

“I have signed the directive,” Dvorkovich, who is in charge of the energy industry, said today on his Twitter Inc. account. “The government will soon allow Rosneft to raise dividends.”

Chief Executive Officer Igor Sechin said in June that state-run Rosneft will increase its total payout to 7.53 rubles a share on 2011 income. The board had recommended 3.45 rubles a share in April. President Vladimir Putin called on Sechin to increase the company’s dividend on June 15.

To contact the reporter on this story: Henry Meyer in Moscow at hmeyer4@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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