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Gazprom Neft shareholders endorse 15 ruble dividend, changes to board

Shareholders of PJSC Gazprom Neft endorsed the recommendation made by the company's board of directors to pay a dividend of 15 Russian rubles per ordinary share during the annual general meeting of shareholders held on June 9.

The dividend is 40% higher than the previous record of 10.68 rubles per ordinary share set in 2016 and includes a dividend of 10 rubles per ordinary share paid based on the results of the first nine months of 2017.

The total dividend payment of 72.12 billion rubles represents 28.1% of the company's 2017 consolidated net profit under IFRS. During 2017, Gazprom Neft's net profit grew 26.5% year on year to 253.3 billion rubles.

Gazprom Neft's shareholders also approved a new composition of the company's board of directors, which includes the appointments of Andrey Dmitriev and Igor Fedorov.

As of June 8, US$1 was equivalent to 62.49 Russian rubles.