Transneft prepared for various dividend options, from 25% to 50% of profits
MOSCOW. April 8 (Interfax) - Transneft is prepared for various options for payment of dividends for 2015, ranging from 25% to 50% of profits, the Russian oil pipeline monopoly's president, Nikolai Tokarev told reporters.
"We are ready for various options - from 25% to 50% - but overall the dividend policy is determined by the government," he said.
The company has still not received a government directive concerning dividends. "It is still early," Tokarev said.
Transneft posted a net profit of 11.8 billion rubles in 2014 under RAS, compared with a net profit of 59.5 billion rubles under IFRS.
The company paid 2.9 billion rubles in dividends for 2014, including 1.8 billion rubles on ordinary shares (318.67 rubles per share) and 1.2 billion rubles on preferred shares (757.87 rubles per share).