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The Board of Directors of OAO Tatneft recommended a dividend for the first half year to 40.11 RUB per share

"Oil of Russia" 06.08.2019 at 14:40

The Board of Directors of OAO Tatneft recommended to pay dividends by the results of the first half of 2019 in the amount 40,11 ruble per common and preferred share, the company said.

"recommend to the General meeting of shareholders of PJSC "Tatneft" to pay dividends by results of six months of 2019: in preferred shares in the amount of 4011% of the face value of the shares; ordinary shares in the amount of 4011% of the nominal value of the shares", – is spoken in the message. The company's authorized capital consists of 2,179 billion 147,508 million ordinary and preferred shares of 1 ruble.

the Register of shareholders for receipt of dividends is recommended to close on September 27. Extraordinary meeting of shareholders concerning payment of dividends for the first half of the year will be held on September 13.

the Main shareholder of Tatneft is the state holding Svyazinvestneftekhim owns 26,14% of the shares of the company. Tatarstan belongs to the "Golden share" of the company.

the Net profit of "Tatneft" for the company in the first half of 2019 decreased by 0.6% compared to the same period last year and amounted to 93,312 billion.

At the end of 2018, the company paid a dividend of 84.9 ruble per preferred and ordinary share, giving dividend 100% of net profit under RAS. Earlier "Tatneft" for several years paid dividends in the amount of 30% of net profit under RAS. In January 2018, the Board of Directors of the company approved amendments to the regulations on dividend policy according to which dividend payments will be sent to at least 50% of the net profits of the company's RAS or IFRS, depending on which one is bigger.

"Tatneft" – one of the largest public vertically integrated oil companies in Russia, which carries out its business in Tatarstan. In 2018, a group of "Tatneft" produced 29.5 million tons of oil. The company manages one of the largest complexes of oil refining factories "TANEKO".

Source: PRIME