Transneft’s dividends increased by 62%

Transneft increased dividends for 2013 by 62%. The payment to the state will share the most in payments. The minority shareholders will get by 2 times more than the State Property Fund: 724.21 rubles per preference share (by 6% less) in comparison to 1,220.38 rubles per equal share. The Board of Directors of Transneft recommended to allocate to payment of dividends for 20137.9 billion rubles, i.e. 70.16% of net profit by RAS or 5% of net profit by ISA. Transneft allocates to the payment much more than it planned before, Vedomosti writes and states that the company has sufficient funds. It had 84.5 billion rubles by the end of 2013. In April, Transneft claimed at the meeting with the investors that it could pay back to the shareholders up to 5.1 billion rubles. OilCapital.ru mentioned the forecast volume of Transnefts’s dividends. The company paid 4.8 billion rubles for 2012.