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Tatneft Board to review dividend recommendations this month

It is noted that the company’s ADRs amount to 24.53% of shares

MOSCOW, November 9. /TASS/. The Board of Directors of Tatneft will discuss the recommendations on dividends to be paid for the first 9 months of this year at a meeting on November 15, the Russian oil producer said.

The matter of convening an emergency shareholder meeting is also on the agenda.

Tatneft is among the top oil producers in Russia. The corporate dividend policy stipulates allocation of at least 50% of the net profit under Russian Accounting or International Financial Reporting Standards to dividends, whichever is higher. The company’s ADRs amount to 24.53% of shares.

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