LUKoil will recommended raising dividends 13 percent, consistent with the company's plan to raise payments to shareholders.
LUKoil's board recommended a payout of 59 rubles a share, up from 52 rubles a share the previous year, LUKoil said Tuesday. That would total 50.2 billion rubles ($1.8 billion), equal to 20 percent of the company's $9 billion net income for 2010, the statement said.
The company aims to increase its dividend payout ratio to 30 percent by the end of 2019, according to a long-term plan released in late 2009.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
