June 6, 2019 / 7:09 AM / 2 months ago

Russia's Gazprom Neft sees dividend on 2019 no less than on 2018

ST PETERSBURG, Russia, June 6 (Reuters) - Russia’s Gazprom Neft, the oil arm of state gas company Gazprom , plans for its dividend payout based on 2019 results to be no less than that of the previous year, a senior company executive told Reuters.

Gazprom Neft may even increase the amount of dividends it pays out relative to net profit, Alexei Yankevich, deputy chief executive for economics and finance, said in an interview.

The company, Russia’s third biggest oil producer by output, had said earlier it planned to pay 37.8% of its 2018 net profit in dividends, above a 35% target set out in its current strategy.

“Our strategy and tactics in general are a gradual increase in dividends,” Yankevich said. (Reporting by Olesya Astakhova and Katya Golubkova Editing by Maria Kiselyova and Polina Ivanova)

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