Bashneft Shares Fall 10% After Dividends Announced
On Friday, the company announced that its board of directors recommended that shareholders pay dividends for the results of 2019 in the amount of 107.81 rubles per ordinary share and type “A” preferred share. The annual meeting of shareholders of the company will be held June 24 in absentia. The dividend register is recommended to be closed on July 6.
Bashneft has oil reserves and a resource base in the Volga-Ural province, Timan-Pechora and Western Siberia. The company operates more than 180 fields in commercial operation. The controlling shareholder is Rosneft (57.6647% of the authorized capital), Bashkiria has 25%, the quasi-treasury stake is 4.4115%.