23 Oct 2012 14:32

Unpaid TNK-BP dividends included in Rosneft's total payment for company - Sechin

MOSCOW. Oct 23 (Interfax) - The issue of dividend payouts for TNK-BP is not necessary, Rosneft President Igor Sechin said during a telephone conference.

"The question of dividends isn't even worth it - it's all our money. The fundamental conditions that have been announced define the position of both sides in terms of the value of the stakes that we are acquiring," he said when asked whether or not additional dividend payouts from TNK-BP are being considered.

TNK-BP, which usually pays out dividends on a quarterly basis, has not yet paid out dividends this year due to a shareholder conflict.

Sechin said that dividends "are funds that will also be set aside to reduce the debt burden."