TNK-BP to Mull Dividend

Oct. 7, 2012

TNK-BP's directors held back from deciding on a dividend payout at their meeting Friday, with the oil company saying only that the matter would be discussed "over the coming weeks," when bidding is expected to be under way for BP's 50 percent stake.

In July, a $1 billion proposed interim payout on this year's profits was blocked by BP's billionaire partners in a long saga of disputes over the running of Russia's third-biggest oil producer.

"The board will consider the recommendation and the issue of dividends more broadly over the coming weeks," TNK-BP said in a statement after the board meeting Friday.

(Reuters)

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