Gazprom Neft to Boost Dividends as Output Growth Beats Peers
- Payout may climb to 15 rubles a share in 2019, CFO says
- Oil producers boosting returns even as crude price stays low
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Gazprom Neft PJSC, the oil unit of Russia’s biggest natural-gas exporter, is set to boost dividends over the next few years. The question is by how much?
The payout may rise to 15 rubles (25 cents) a share in 2019 from about 10.68 rubles this year as upgraded refineries yield more valuable products and output growth outstrips other top Russian producers, Chief Financial Officer Alexey Yankevich said. Capacity exists to push payouts above the company’s policy of 25 percent of profit, he said Wednesday in an interview via video link from Gazprom Neft’s headquarters in St. Petersburg.