RIYADH: Rosneft PJSC, Russia’s integrated energy company, has vowed to pay record-high annual dividends amid rallying oil prices, Bloomberg reported.
The company’s board suggested 23.63 rubles ($0.38) per share for the second half of 2021, bringing the full-year dividend to a record 41.66 rubles.
Similarly, Russian majority state-owned multinational energy corporation Gazprom PJSC also announced around a week ago that it intended to offer its highest-ever payout as it profited from Europe’s supply crunch.
As the biggest shareholder, the Russian state is set to gain the most out of the decisions of both the firms.
However, several foreign investors are expected to face difficulties receiving the payout as a result of the restrictions imposed by Russian President Vladimir Putin.