Surgutneftegas ups 2011 dividends 40%
SURGUT. June 29. (Interfax) - Shareholders in Surgutneftegas at their annual general meeting on Friday approved 2011 dividends of 0.6 rubles per ordinary share and 2.15 rubles per preferred share, an Interfax correspondent reported from the meeting.
For 2011 as a whole, the company could earmark 38 billion rubles for dividends, compared to 27 billion rubles the year before - an increase of 40%. The company posted net profit of 233.157 billion rubles last year. Therefore, it could set aside over 16% of net profit for dividends.
Surgutneftegas has not changed its dividend policy for a long time, nor does it plan to do so, the company's chief Bogdanov has said a number of times. Surgutneftegas pays some of the highest dividends in the oil industry, at rough 20% of net profit, according to Bogdanov.
As the company's 2012 auditor, shareholders approved LLC Rosexpertiza, with which Surgutneftegas has cooperated for many years.
