25 May 2010 12:09

Slavneft may cut 2009 dividends 10%

MOSCOW. May 25 (Interfax) - The board of directors at oil company Slavneft has recommended that shareholders vote to pay 1.1 rubles per common share in dividends for 2009, 10% less than paid for 2008, when they meet for their AGM on June 29.

Slavneft restricted 2008 dividends to interim payments for the first half - 1.23 rubles per share. A total of 5.85 billion rubles was paid out.

The shareholder register closed on May 14 ahead of the AGM.

The total dividend payout of 5.230 billion rubles for 2009 is slated to take place before December 30 this year.

Slavneft belongs to TNK-BP and Gazprom Neft on a parity basis.