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Transneft pipeline operator to pay $48.9mln in 2005 dividends -1

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MOSCOW, May 31 (RIA Novosti) - Transneft (RTS: TRNFP) said Wednesday it will pay 1.32 billion rubles (about 48.8 mln) in dividends for 2005.

The state-owned oil pipeline operator said its board of directors had recommended the company's annual shareholders' meeting to pay 860.72 million rubles (about $31.8 million) on ordinary shares or 184.54 rubles (about $6.83) per share and 460.80 million rubles (about $17 million) on preferred stock or 296.36 rubles (about $10.97) per share.

Transneft will pay 80% more in dividends than it did in 2004.

The state owns 75% of Transneft stock or 100% of its voting shares. The company has charter capital of 6.22 million rubles (about $216,000). Preferred shares are held by private owners.

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