In 2014, Tatneft’s dividends may grow by a quarter

Tatneft’s dividends on the results of 2014 may increase by 21.5-27.6% to 10-10.5 rubles per share against 8.23 rubles per share on the results of 2013, Gazprombank reports in its analytical review.

"The (Tatneft’s) accounting under RAS for the first six months of 2014 suggests a significant increase of dividends...Tatneft is unlikely to manage to maintain such dynamics of the net profit in the second half, as the low base effect will disappear. Nevertheless, in the absence of major movements in oil and in rate of the ruble to the dollar Tatneft can earn no less than 35 billion rubles in the second half of 2014 that will lead to growth in the net profit by results of the year in the amount of about 25% with a corresponding increase of the dividend to 10-10 5 rubles per share," - the report says.

As it was previously reported, in the first six months of 2014, the Tatneft’s net profit under RAS increased 1.66 times as compared with the same period of the previous year and made up 48.394 billion rubles. At the same time, in the reporting period the proceeds grew by 23.4% to 207.073 billion rubles, and the prime cost increased from 104.655 billion rubles to 131.177 billion rubles.

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