Rosneft’s Historic-High Profit Paves Way for Record Payout - Bloomberg
Rosneft PJSC will pay record dividends after reporting its highest-ever annual net income amid booming energy prices.
Russia’s largest oil producer is the latest to channel the benefits of surging crude prices to shareholders, with global peers including BP Plc, Shell Plc and TotalEnergies SE also boosting investor returns. It’s a stunning reversal of fortunes for the industry that just two years ago was suffering as the market slumped with the pandemic.
“Against the background of the recovery of the global economy, the company achieved new financial records in 2021,” Chief Executive Officer Igor Sechin said in the statement Friday. “Taking into account the company’s commitment to the dividend policy, the earnings of 2021 will provide a record level of dividends.”
Rosneft’s net income reached 883 billion rubles ($11.9 billion) last year, despite a 40% drop in fourth-quarter profit compared with the preceding three months.
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