The Company’s Board pre-approved Rosneft's Annual Report for 2010 and recommended that the AGM of shareholders approve a dividend of RUB 2.76 per share for 2010, a 20-percent increase over 2009.
The total amount, if accepted by the shareholders, as the Board recommends, will be allocated to pay dividends amounting to RUB 29 billion 251 million, or 15.2% of net income under Russian Accounting Standards (vs 11.7% a year earlier).
In accordance with Russian legislation on joint stock companies, dividend payments will be made simultaneously to all holders of shares not later than Aug. 9, 2011.
The Board of Directors recommended the Audit-Consulting Group Business Systems Development to conduct an audit of Rosneft and its subsidiaries for the period 2007-10 inclusive.