LUKoil Mulls Dividend Rise

By The Moscow Times

April 26, 2011

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)

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