September 29, 2017 / 2:53 PM / a year ago

Russia's Rosneft to pay 50 percent of IFRS net profit in dividends

MOSCOW (Reuters) - Russian oil major Rosneft (ROSN.MM) said on Friday it had changed its dividend policy and would now pay out no less than 50 percent of its net profit under International Financial Reporting Standards in dividends at least twice a year.

FILE PHOTO: The logo of Russia's Rosneft oil company is pictured at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. REUTERS/Sergei Karpukhin/File Photo

Russia’s government has previously ordered a 50-percent dividend threshold for state companies in order to help bridge its fiscal gap, but some firms have been granted exceptions.

Reporting by Jack Stubbs; Editing by Maria Kiselyova

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