26 May 2017 19:48

Bashneft delaying 2016 dividends until end-2017 due to refining capex, to pay on prefs only

MOSCOW. May 26 (Interfax) - Directors at Bashneft are recommending that dividends for 2016 are paid on preferred shares only in the amount of 3 million rubles, the oil producer said.

Bashneft's annual shareholders meeting takes place in Ufa on June 30. Shareholders on record as of June 5 will be able to vote.

The dividend record date is July 12.

The company told Interfax that the dividends would not actually be paid until the end of the year due to higher capex and the need to improve safety at refineries.