24 Mar 2011 16:50

NOVATEK to pay 4 rubles a share for 2010

MOSCOW. March 24 (Interfax) - Directors at NOVATEK are recommending a dividend of 4 rubles a share for 2010, including the 1.5 rubles a share interim dividend paid for H1 2010, the gas producer said in a statement.

The dividend will be put to the vote at the AGM on April 28. The cut-off date for the AGM was March 22.

The board also decided to downsize its management board from 15 to eight members in order to iopt4imize its functions, following a proposal by its core shareholder and chief executive, Leonid Mikhelson.

The eight are Mikhelson himself, deputy chairmen Vladimir Baskov, Mark Gyetvay, Tatyana Kuznetsova, Iosif Levinzon, Mikhail Popov and Alexander Fridman, and board member Kirill Yanovskiy.