Bashneft will direct 20 billion rubles on dividends following the results of 2015

UFA, 15 March 2016. /Bashinform News Agency, Olesya Seregina/. PJSOC Bashneft on the basis of 2015 will direct 20 billion rubles on dividends, Interfax quotes the president of the company Alexander Korsik. The head of Bashneft told investors about it during a phone conferencing.

The Bashneft strategy suggests that the company pays 25 percent of the net profit under IFRS, but not less than 20 billion rubles. According to the International Financial Reporting Standards (IFRS), the Bashneft group of companies has finished 2015 with a net profit of 58.2 billion rubles. According to Alexander Korsik, 25 percent of the net profit under IFRS will not exceed 20 billion rubles. Accordingly, it will be paid 20 billion rubles.

The Bashneft controlling shareholder is the Russian Federation represented by the Federal Property Management Agency. The Republic of Bashkortostan owns a blocking stake (25 percent plus one share). Therefore, 5 billion rubles of Bashneft dividends will be transferred to the regional treasury. The dividends will be aimed at ensuring economic and social stability and the republican address investment program, RBC-Ufa reports.