Serbia, NIS proposed to distribute a total of 49.2 million euros in dividends from the 2021 profits

, News Serbia Energy

The Board of Directors of Serbian oil company NIS, majority owned by Russian Gazpromneft, proposed to distribute a total of 49.2 million euros in dividends from the company’s 2021 profits. The shareholders will vote on this proposal at the next general meeting scheduled for 29 June.

Namely, NIS will distribute 25 % of its last year’s net profit as dividends. In 2021, NIS distributed 8.25 million euros in dividends from 2020 profit.

The Board of Directors also proposed a change in the statute of that joint stock company and the deletion of the article according to which GazpromNeft has the right to operational management of that company.

In early May, parent company Gazprom bought 10 million NIS shares from its subsidiary GazpromNeft, so GazpromNeft’s stake in the company was reduced to 50 %. It is estimated that this was done because GazpromNeft is under EU sanctions against Russia, while the parent company Gazprom is not.