Putin Asks Rosneft To Consider Paying 50% Of Net Profit In Dividend



Reuters

MOSCOW, June 20 (Reuters) - Russian President Vladimir Putin has asked Igor Sechin, the head of Russia's largest oil producer Rosneft, to consider the possibility of paying 50 percent of net income in dividends, according to the meeting transcripts published by the Kremlin.

A Rosneft spokesman said the proposal was "for the future" and the company would not hike the payout immediately.

"We can't change dividends on 2016 results, the president knows our dividend policy. It's only about future," spokesman Mikhail Leonvtiyev said.

Rosneft's board has recommended paying 35 percent of net income in dividends. The company will hold an annual general meeting on Thursday.

"We can't break the corporate procedures. We pay dividends twice a year, I think it is (the rise) about the preliminary dividends for the first half of 2017," the spokesman added.

Putin has also asked Sechin to consider a new company strategy in line with a changing "global market environment", the agencies reported.

(Reporting by Vladimir Soldatkin; editing by Susan Thomas)



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