Bloomberg News

Transneft’s Tokarev Says No Dividend Change to ‘Feed’ Investors

October 25, 2011

Oct. 25 (Bloomberg) -- OAO Transneft, Russia’s oil pipeline monopoly, sees no need to adjust its dividend policy, said Nikolai Tokarev, the company’s president.

There is no reason to pay higher dividends to “feed three people” who hold Transneft’s preferred shares, Tokarev told reporters today in Vyngapur, Siberia, after the opening of the Purpe-Samotlor link to boost oil flows to Asia.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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