Oil giant Rosneft plans to pay out record dividends amid intensifying sanctions — and Russia stands to be the biggest winner
Russian oil giant Rosneft is planning to dole out record dividends to shareholders amid intensifying sanctions over the war in Ukraine.
Rosneft's board is recommending 23.63 rubles a share for the second half of 2021, according to a Monday notice on the where the company has a secondary listing. This brings full-year dividends to a record high of 41.66 rubles in 2021 thanks to a surge in oil prices on the back of a demand recovery on easing pandemic restrictions. As a company policy, Rosneft pays 50% of its net profit as dividends to shareholders. Shareholders will vote on the dividend recommendation on June 30, according to Rosneft's notice.
As Rosneft is a state-owned company, the Russian state would be the biggest winner from the payouts. A Russian government-owned company owns more than 40% ofIn contrast, foreign investors could face challenges getting paid.
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