Russian oil company OAO Slavneft (SLAV.RS) said Monday its board has recommended paying a dividend only for the first nine months of 2007 totaling 1,331 million rubles ($56.4 million), or 0.28 rubles per ordinary share.
The payout is significantly less than the RUB10,442 million the company paid for the whole year of 2006.
Slavneft is a joint venture between TNK-BP (TNBP.RS), a subsidiary of U.K. oil major BP PLC (BP), and Gazprom Neft (SIBN.RS), part of Russian gas monopoly OAO Gazprom (GAZP.RS).