OREANDA-NEWS. May 29, 2009. Transneft’s BoD advised its AGM to allocate RUB 368.16 mn to preferred dividends and pay out no common dividends, the oil pipeline monopoly’s representative said. For the record, Transneft holds 1,554,875,000 preferred shares, i.e. per-share dividend could be equal to RUB 236.78.

Based on 2007 performance, Transneft’s preferred dividends totaled RUB 402 mn or RUB 258.45 per share and spent RUB 750 mn on commons or RUB 135.22 per share, bringing aggregate dividend payouts to RUB 1.15 bn. Transneft usually disburses 10% of its net profit drafted under RAS (RUB 3.68 bn in 2008) to preferred dividends. The company’s spokesman said a decision on common dividends will be adopted by the state.