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Rosneft to Double Dividend

Rosneft's board of directors said it had approved a decision to nearly double a planned dividend payout for 2011 after President Vladimir Putin effectively ordered an increase in dividends at the state-owned giant.

The world's top holder of oil reserves said Tuesday that the board approved an additional dividend of 4.08 rubles ($0.13) per share at a meeting Monday, bringing the total 2011 payout to 7.53 rubles per share.

An extraordinary shareholder meeting will be held on Nov. 30.

(Reuters)

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