21 May 2010 13:05

Bashneft could more than double 2009 dividends

MOSCOW. May 21 (Interfax) - Bashneft , the company around which the Sistema holding is building a vertically integrated oil company in Bashkortostan, could more than double dividend payments for 2009.

Bashneft said its directors had recommended 109.65 rubles a share or a total of 22.455 billion rubles for 2009. It paid 48.82 rubles or a total of 9.998 billion rubles for 2008.

The AGM takes place on June 29 and the register closed on May 21.

Bashneft boosted net profit to Russian Accounting Standards (RAS) almost 50% last year to 16.2 billion rubles. It has 170,169,754 issued ordinary shares and 34,622,686 preferred shares, par value 1 ruble each. Sistema owns 76.52% of issued shares.