16 Jun 2009 11:33

Sistema's Bashkir fuel cos waive 2008 final dividend

MOSCOW. June 16 (Interfax) - Five of the Sistema holding's six fuel and energy companies from Bashkortostan will not pay a final dividend for 2008 and will limit themselves to the interim dividends for the nine months ended September 30, the companies said in statements following their AGMs at the end of May.

Ufimsky NPZ (Ufa Oil Refinery) will pay 2.66 rubles a share for the nine months (1.647 billion rubles in total), Novoil - 2 rubles (1.747 billion rubles), Ufaneftechim - 8.69 rubles (2.951 billion rubles), Bashkirnefteproduct - 47.75 rubles (700 million rubles) and Ufaorgsintez - 1.77 rubles (200 million rubles).

Sistema closed the takeover of six fuel and energy companies in Bashkortostan in April. Directors at the sixth, the upstream Bashneft , are recommending dividends of 48.82 rubles a share for 2008, including interim dividends of 34.18 rubles for the nine months and supplementary dividend of 14.64 rubles a share. The company could pay a record 9.998 billion rubles for 2008. Bashneft's AGM takes place on June 30.