Serbia; GazpromNeft Oil industry co announces dividend payout changes

, News Serbia Energy

GazpromNeft owned Serbian Oil Industry (NIS) has proposed a dividend payout in amount of 0.69 euros per share, which currently provides a dividend yield of 8.6%.
Shareholders will vote on this proposal in the General Assembly, which should take place before the end of June, according to data of the company financial calendar, while the ex-dividend date should be two days earlier. Last year, NIS paid off 0.65 euro per share.

Last year, NIS group despite the difficult economic situation, achieved a profit before tax of 48.4 billion dinars, while the total investment of the company in 2013 reached 57 billion dinars (491 million euros). Profit of NIS group in 2013 is approximate to the previous year profit (up 2%), and only NIS had a pre-tax profit of 51 billion dinars, while the rest of profit achieved companies-daughters.
The internal efficiency most affected the achievements, but as well as cost reduction and introduction of new technologies which will be continued in 2014.