Norilsk Says Can Stick to 2013 $2Bln Dividend Target
Russia's Norilsk Nickel can stick to its 2013 $2 billion dividend target despite reporting a drop in net profit for last year, its deputy chief executive said Monday.
"The 2013 full-year dividend will depend on shareholders' decision, but the company is able to continue to stick to the dividend target," Sergei Malyshev, Norilsk deputy chief executive, told reporters during a conference call.
The firm has a dividend policy, approved by its shareholders last year, which states that its dividend target for 2013-2014 should be not less than $2 billion per year. The firm had previously returned to shareholders $1.1 billion in dividends for the first nine months of 2013. (Reuters)
Gazprom Management Recommends 20% Dividend Increase
The management of Russia's top gas producer Gazprom has recommended the board approve a 20 percent increase in dividend payouts on 2013 results, the company said Monday.
It said the management recommended increasing the dividend to 7.2 rubles per share from the 5.99 rubles per share paid on 2012 results, confirming an earlier news report.
Gazprom had expected to offer between 6 and 8 rubles per share, and 7.2 rubles exceeds some analysts' expectations.
Gazprom shares pared losses made immediately after the report, but were still down 2.5 percent at the end of trading in Moscow — in line with the broader Russian market, which has been hit by heightened tensions over Ukraine. (Reuters)
Latvia Mulls Buying E.ON's Stake in Gas Utility
Latvia's government is considering buying E.ON's 47.2 percent stake in gas utility Latvijas Gaze, local television reported late Sunday, citing the country's economy minister.
Russia's Gazprom owns 34 percent, and gas trader Itera Latvija has a 16 percent stake in the utility, which imports, transports and sells gas in the Baltic state. Russia is the sole gas supplier.
Existing shareholders have the right of first refusal to buy the shares from Germany's biggest utility which plans to exit the Baltic markets.
Riga-listed Latvijas Gaze has a market capitalization of more than 370 million euros ($508 million). (Reuters)
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