“Rosneft” has offered to pay interim dividends for the first half of 2017

Moscow. July 3. INTERFAX.RU – “Rosneft” offers at the end of the first half of 2017 to pay interim dividends, reported “Interfax” a source close to the company. A source in one of the specialized agencies are also familiar with the initiative “Rosneft”. According to him, the company has already addressed with the corresponding offer. The company did not comment on this information.

This year, as in the previous year, the Ministry divided on the issue of dividend payment “Rosneft”. So, the Federal property management Agency on results of work of “Rosneft” in 2016 are invited to send the payment of dividends 50% of net profit under IFRS, and the Ministry of energy of 35%. In late April, the company’s Board of Directors recommended that the annual meeting of shareholders to adopt a decision on payment of dividends following the results of work in 2016 at the rate of 5 RUB. 98 COP. per ordinary share. Thus, at the end of 2016 will be distributed as dividends 35% of net profit under IFRS, or 63.4 billion rubles, which corresponds to the new dividend policy was approved at the end of last year.

Meanwhile, two days before the annual meeting of Rosneft shareholders held on 22 June, Russian President Vladimir Putin at the meeting with the NC CEO Igor Sechin proposed to return to the question of the payment of dividends on the basis of 50% of net profit. “Of course, I would like to return (the shareholders) to matters of a financial nature-namely, the payment of dividends 50% of net profit,” said the head of Rosneft”.

Igor Sechin at the annual meeting suggested shareholders to consider raising the dividend payout from 35% to 50% of net profit under IFRS already by the end of 2017. “We support this decision. It will give an important trend to improve the dividend yield for our shareholders and provide our perspective a positive effect on the capitalization of the company. We soon their proposals on this matter will be submitted to the government of the Russian Federation”, – he said.

Net profit of Rosneft under IFRS in the first quarter of 2017 amounted to 21 billion roubles, the profit attributable to the share of shareholders – 13 billion rubles, which is 8.3% above the level of the first quarter of 2016.