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Rosneft expects record-high 2013 dividends

February 04, 2014, 20:45 UTC+3 4

Net profit of 551 billion rubles ($16.7 billion) is also a record-high figure - Rosneft's Vice-President

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MOSCOW, February 4. /ITAR-TASS/. Russian oil giant Rosneft expects record-high 2013 dividends, the company’s Vice-President Svyatoslav Slavinsky said on Tuesday.

“Net profit of 551 billion rubles ($16.7 billion) is also a record-high figure. We are happy to say it will be used as a recommendation for dividend payment,” he said.

The company has also effectively realized its CAPEX program of about 600 billion rubles ($18 billion). All facilities were commissioned without delay which “will surely impact the company’s efficiency in the future”.

The record-breaking “strong results and financial stability of the company were highly evaluated by the international rating agencies Moody's and Standard & Poor's that confirmed Rosneft’s rating at the sovereign level”. Slavinsky especially stressed the company’s success in the implementation of the business-model which integrated all required assets in time.

Moreover, the company did not decline but, on the contrary, rather gained in efficiency, neutralizing negative macroeconomic environment and reporting record-breaking revenue (more than 5 trillion rubles, or $151 billion), and EBITDA (more than 1 trillion rubles, or $30 billion).

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