SIBUR to pay dividends at the amount of 7.4 billion rubles for the first half of the year

The shareholders of SIBUR Holding Plc., the largest Russian petrochemical holding, held an extraordinary meeting on October 15 and approved the dividends for the first half of the year at the level of 3.4 rubles per ordinary share. The total amount makes up 4.407 billion rubles, the company reported on Tuesday.

Previously SIBUR hadn’t paid any interim dividends.

The dividends will be paid no later than within 60 days from the moment the decision had been made, RIA News reports.

The shareholders have also approved the agreements with NOVATEK and BP-TNK.

Particularly, the long-term gas purchase contract with NOVATEK for up to 69.7 billion cubic metres was approved. The value of the transaction makes up 360 billion rubles at most. The period of the delivery is 2013-2022.

The shareholders have also approved the decision about opening of a credit line. The details remain undisclosed.

SIBUR Holding paid 21.8 billion rubles as dividends for 2011 (1 thousand rubles per share). No dividends were paid for 2010, the dividends for 2009 made up 4.829 billion rubles (110.85 rubles per share). In April the shareholders of the holding have decided to split the shares of SIBUR. One ordinary share with 1 thousand rubles nominal was converted to 100 ordinary shares with 10 rubles nominal. At the same time, 21.784 million of ordinary shares with 1 thousand rubles nominal are converted to 2.178 billion shares with 10 rubles nominal.

At the end of 2011 the structure of the shareholders’ capital of SIBUR was as follows: 57.5% belonged to the Head of NOVATEK Leonid Mikhelson, 37.5% - to Gennady Timchenko, 5% - to the managers of the holding.

SIBUR Holding is the largest petrochemical company in Russia and Eastern Europe with the full range of the sectors from gas processing, production of monomers, plastics and artificial rubber to production of mineral fertilizers, tires and plastics processing.

Source: http://www.oilcapital.ru/company/181623.html

Translated by Alexandra Utyasheva