Serbia's NIS Plans Gross Dividend of 46.85 Dinars (0.3886 Euro)/Share

Serbian oil and gas firm NIS, said it plans to pay a gross dividend of 46.85 dinars ($0.4346/0.3886 euro) per share from its 2014 earnings.

NIS, 56.15%-owned by Russia's Gazprom Neft, will pay out as dividend 7.64 billion dinars from last year's net profit of 30.6 billion dinars, the company said in a bourse filing on Monday.

The company plans to leave the remainder of its 2014 net profit, in the amount of 22.9 billion dinars, unallocated.

NIS paid a gross dividend of 80.22 dinars per share for 2013, distributing a total of 13.08 billion dinars.

The decision on the dividend payment will be made at a shareholders’ assembly scheduled for June 23.

Gazprom Neft acquired from the Serbian state a majority stake in NIS in 2009.

NIS, still 29.9%-owned by the Serbian state, is one of the largest vertically integrated oil and gas companies in Southeast Europe. Its main activities include the exploration, production and processing of oil and gas, as well as the production and retail of a wide range of petroleum products.

SEE News