Lukoil pledges substantial dividend increase for 2012
MOSCOW. May 28 (Interfax) - Russian oil major Lukoil has again promised its shareholders that dividends will increase significantly, and pledges in Q2-Q3 to reveal how much stock top management has bought up.
Company Vice President Leonid Fedun said during the presentation of the company's US GAAP financial report for Q1 that "for next year I expect substantial dividend growth compared with this year, if there is no significant upheaval."
Fedun said the company's top management continues to buy Lukoil shares. "We will very probably be able to show the size of the buy-back in the second or third quarter. That will be good, significant volumes," he said. Because of currently low stock value, buying it up is "a fundamentally attractive operation" for top management, he said.