NOVATEK to boost dividends 1.5-fold for 2011
MOSCOW. April 27 (Interfax) - Shareholders in gas major NOVATEK at the annual general meeting on Friday decided to pay out 2011 dividends of 3.5 rubles per share in addition to the 2.5 rubles per share in interim dividends for the first half, thereby boosting dividends 1.5-fold over last year, one of the shareholders told Interfax.
Overall dividends for the year, therefore, will come to 6 rubles per share, totaling 18.22 billion rubles. Cumulative dividends for 2010 were 4 rubles per share.
NOVATEK posted net profit to Russian Accounting Standards (RAS) of 54.9 billion rubles, meaning that it will earmark approximately a third of that amount for dividends.
The company board of directors was re-elected in its entire. The president of Total Exploration&Production, Yves-Louis Darricarrere remains on the board. Gazprombank chief Andrei Akimov and Kirill Seleznev, head of marketing, gas processing and hydrocarbons at Gazprom and the general director of LLC Gazprom Mezhregiongas, retained their seats, as did former E.ON Ruhrgas CEO Burkhard Bergman; NOVATEK's board chairman, Alexander Natalenko; Troika Dialog board chairman Ruben Vardanian; NOVATEK's finance and strategy director Mark Gyetvey; executive board chairman Leonid Mikhelson; and Gennady Timchenko, who is co-owner of Swiss oil trader Gunvor.
