The board of Directors (BoD) of the Russian oil company Lukoil has recommended the shareholders to decide on dividend payments for 2009 amounted to 52 rubles (USD 1.79) per share, it said in a statement after today’s meeting of the Board. Dividend paid last year (based on financial results for 2008) was the rate of 50 rubles per share. The total amount of the dividend that will distribute Lukoil for this year is expected to be close to 44.23 billion rubles (about 1.52 billion dollars). This amount represents 20.86% of net consolidated profit of the company’s estimated U.S. accounting standard, which is 7.011 billion dollars. Lukoil approved policy provides for distribution of dividends as dividends to be distributed at least 15% of annual net profit.
The Annual General Meeting of shareholders of Lukoil will be held on June 24 in the central office in Moscow.