Lukoil dividend news has neutral impact on share prices
MOSCOW. April 27 (Interfax) - The news on Friday that the Lukoil board of directors has recommended dividends for last year of 75 rubles per share did not have much of an immediate impact on company share prices.
By 12:35 p.m. Moscow time, Lukoil stock was up just 0.3% at 1,761.4 rubles per share on the MICEX-RTS exchange, while other blue chips were up from 0.3% to 2.3%.
Tatneft was up 2.3% at 182.1 rubles per share. The company plans to pay 7.08 rubles per share in dividends for 2011, which is 41% more than for 2010.
Lukoil's annual shareholders meeting is set for June 27, and the list of those eligible to take part will be set as of May 11.
Lukoil turned net profits to Russian Accounting Standards (RAS) of 242.637 billion rubles last year. The total dividend payout could run to 63.792 billion rubles, or about 26% of RAS net profits.
Previously, analysts surveyed by Interfax were virtually unanimous in predicting 2011 dividends growing 25% over 2010 to 74 rubles per ordinary share. Lukoil paid out 59-ruble dividends for 2010.