OREANDA-NEWS. February 07, 2014. Rosneft (Bloomberg: ROSN:RU) announced that it may pay out RUB 12.8 as the FY13 dividend.

The company posted RUB 551 bn of NI under IFRS in 2013 vs. RUB 365 bn which was earned in 2012. Given that Rosneft will keep the 25% dividend payout ratio unchanged, it may increase its dividend payment by 59% y-o-y from RUB 8.05, which was allocated for 2012.The BoD is to consider dividend recommendations at the end of April. The announced figure implies a 5.3% dividend yield compared to the current market quotes (RUB 243.3). We see this level of yield as supporting the company’s stock.

Yesterday, Rosneft announced that it may pay out RUB 12.8 as the FY13 dividend. The company posted RUB 551 bn of NI under IFRS in 2013 vs. RUB 365 bn which was earned in 2012. Given that Rosneft will keep the 25% dividend payout ratio unchanged, it may increase its dividend payment by 59% y-o-y from RUB 8.05 which was allocated for 2012.The BoD is to consider dividend recommendations at the end of April.

The announced figure implies 5.3% dividend yield compared to the current market quotes (RUB 243.3). We see this level of yield as supporting the company’s stock.