Serbia's NIS Plans Gross Dividend of 0.6935 Euro/per Share

Serbian oil and gas firm NIS [BEL:NIIS] said on Thursday it plans to pay a gross dividend of 80.22 dinars ($0.9434/0.6935 euro) per share from its 2013 earnings.

NIS, 56.15%-owned by Russia's Gazprom Neft, is proposing to pay out as dividend 13.08 billion dinars from last year's net profit of 52.3 billion dinars and to allocate to undistributed earnings the remainder, the company said in a bourse filing.

NIS paid a gross dividend of 75.43 dinars per share for 2012, distributing a total of 12.3 billion dinars.

The final decision on the dividend payment will be made at a shareholders’ assembly to be held on June 30.

Gazprom Neft acquired from the Serbian state a majority stake in NIS in 2009.

NIS (www.nis.rs), still 29.9%-owned by the Serbian state, is one of the largest vertically integrated companies in Southeast Europe. Its main activities include the exploration, production and processing of oil and gas, as well as the production and retail of a wide range of petroleum products.

Source: SeeNews