Novatek Raises 2011 Dividend 40%

Russia’s largest independent gas producer Novatek raised 2011 dividend payouts 40 percent to 3.5 rubles ($0.12) per share, interim dividend exclusive, the firm said on Friday.

The board recommended an annual shareholders’ meeting approve dividend payments worth of total 10.627 billion rubles ($361.2 million), Novatek said in a statement.

The overall volume of dividend payouts, including the interim dividend payment of 2.5 rubles per share for the first half of 2011, amounts to 18.218 billion rubles, a 50 percent increase compared with 2010.


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