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Transneft head expects 2012 dividends at 38% of company net profit

“We provided for the amount of dividends on preferred shares to be no lower than on voting shares,” Head of Transneft Nikolai Tokarev said

HANNOVER, April 8 (Itar-Tass) – Head of Transneft Nikolai Tokarev expected the volume of dividends for 2012 will be approximately 38 percent of the company’s net profit.

“We provided for the amount of dividends on preferred shares to be no lower than on voting shares,” he said. “We hope that this balance will achieved this year,” the president of Transneft added.

“The amount of dividends on preferred shares and voting shares will be the same, so as not to infringe upon the interests of the state,” Tokarev said. “The payments will be a little higher – about 38 percent of the net profit,” he said.