On April 10, Transneft’s Board to discuss distribution of profit for 2013
Edited by Rhod Mackenzie / 2014-04-04 02:15:23
On April 10th, Transneft’s Board of Directors will preliminary approve the company’s report for 2013 and will discuss distribution of profit and payment of fees on the results of the year, the oil-pipeline monopoly’s press release reports.
Transneft paid dividends in the amount of 45.7% of its net profit under RAS for 2012 (10% for ordinary shares and 35.7% for preferred shares). The total amount of payments grew 1.7 times as compared with 2011 to 4.865 billion rubles. On February 18, head of the Ministry of Energy Alexander Novak stated that the authorities discussed gradual transfer of Transneft to payment of dividends on basis of the company’s net profit under IAS by 2020.
