Rosneft to increase 2011 dividend by 25 percent

MOSCOW Sat Apr 28, 2012 3:04am EDT

MOSCOW (Reuters) - The board of Russia's top crude producer Rosneft (ROSN.MM) on Saturday recommended the company pays out 3.45 roubles ($0.12) per share in dividends for 2011, up 25 percent from the 2.30 roubles it paid the previous year.

That would take the total value of the payout to 36.564 billion roubles ($1.25 billion) and increase dividend yield to 1.65 percent, still one of the lowest among the Russian peers.

Analysts said that the average dividend yield in Russian oil and gas sector is expected to come at between 4 and 5 percent.

(Reporting by Vladimir Soldatkin; Editing by Lidia Kelly)

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