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Gazprom Neft to Pay Well

Gazprom Neft, the oil arm of the state-controlled gas producer and exporter, recommended raising its dividend for last year by 65 percent to 7.30 rubles a share after profit rose.

Gazprom Neft's payout may reach 34.6 billion rubles ($1.2 billion), or 22 percent of profit to U.S. generally accepted accounting principles, the St. Petersburg-based oil producer said Monday. Shareholders as of April 24 will vote on the dividend at a June 8 meeting.

(Bloomberg)

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