Bashneft planning to pay interim dividends before year-end
MOSCOW. Nov 25 (Interfax) - Bashneft plans to pay out before the end of the year interim dividends expected to be approved at a December 17 EGM, company President Alexander Korsik said during a conference call.
At the end of last month, the company board of directors recommended that shareholders approve dividends for January-September of 199 rubles per all types of shares.
There could be 45.25 billion rubles paid out in all, using some January-September net profits in the amount of 8.3 billion rubles and some undistributed profits from previous years in the amount of 36.87 billion rubles.
Bashneft paid its stockholders 5.32 billion rubles for 2012 at 24 rubles per all forms of shares. The company put 20.274 billion rubles - 99 rubles per ordinary and preferred share - for 2011, which was almost 60% of net profits.
The company's dividend policy envisions paying out dividends of at least 10% of net profits as calculated to International Financial Reporting Standards (IFRS).
