MOSCOW, April 25 (RIA Novosti) - The board of directors of LUKoil (RTS: LKOH) recommended that its shareholders approve an 18% dividend increase for 2005 at an annual meeting June 28, the company said Tuesday.
Russia's No.1 independent crude producer said dividends should stand at 33 rubles ($1.2) per share against 28 rubles ($1.02) on 2004 results, adding that the term of dividend payment would be approved in the second half of 2006.
Russia's ING Bank (Eurasia) is LUKoil's majority shareholder (63.3%), with U.S. energy giant ConocoPhillips holding a 16.8% stake. LUKoil's charter capital is 21.26 million rubles ($775,000). All its shares are ordinary with a face value of 0.025 rubles ($0.0009).
