On 28 May, the Board of directors of OAO AK Transneft decided to recommend to the general shareholders’ meeting to pay RR 3,961,682,580 as dividends on Company’s shares.
Payment of dividends on the ordinary shares (4,664,627 shares) have been recommended at RR 509.6 per one share, totalling RR 2,377,093,919. Dividends on the privileged shares (1,554,875 shares) - at RR 1,019.1 per one share, totalling RR 1,584,588,661. (10% of the net profit).
It has been recommended to the general shareholders’ meeting that the date for payment of dividends to be not later than 31 December 2004.