Transneft Board of Directors did not admit dividends for 2013

At the session on April 10, Transneft Board of Directors took into account but did not admit the dividends for 2013 because the company did not receive the directive of the State Property Fund, Interfax reports referring to the claim of the First Vice President of the company M. Grishanin at the meeting with the analysts. The management suggested the dividends for 2013 at a rate of 5.143 billion rubles. Under the Regulations of the company, they pay 10% of net profit by RAS to the preference stocks. Transneft’s management suggested equal dividends for equal and preference stocks.