Bashneft wants to return almost a half of its profit to shareholders

In 2014, net profit of Bashneft decreased by 6.5% to 43.1 billion rubles, the company reported yesterday. In the fourth quarter, it made the loss in the amount of 2.3 billion rubles because of depreciation of a number of "historical financial investments, caused by unfavorable macroeconomic environment" as well as "geological information of several exploration assets, including the rights to explore and develop the Tortasinskoye field" ( was purchased in March 2014).

According to its charter, Bashneft is to pay at least 10% of its net profit under IAS, but in the recent few years, as a rule, it returned more net profit. Record dividends were for 2013 - 410 rubles per common share (dividend yield was 17.8%) and preferred share (22.7%). The total amount was 82.7 billion rubles, while the net profit for the year was 46.2 billion rubles. In September 2013, Boston Consul-ting Group placed Bashneft on the 9th place in the ranking (of 1616 companies) of the most profitable companies in the world for shareholders: return on equity made up 52.7%. In December 2014, Bashneft came under the control of the state. Now it must give shareholders at least 25%.