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Rosneft says no change to dividend policy despite lower state stake

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Russia's largest oil producer Rosneft said on Sunday it planned to maintain a dividend policy of paying out half of its net profit despite the state lowering its stake in the company to below 50 per cent.

[MOSCOW] Russia's largest oil producer Rosneft said on Sunday it planned to maintain a dividend policy of paying out half of its net profit despite the state lowering its stake in the company to below 50 per cent.

Rosneft plans to continue developing offshore fields in Russia but does not plan to start any new offshore projects until after oil prices recover, it said in a statement to Reuters.

State holding company Rosneftegaz relinquished its controlling stake in Rosneft after the latter left its business in Venezuela, an adversary of Washington.

REUTERS

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