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Russia's LUKoil to raise dividends 18% year on year

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MOSCOW, June 28 (RIA Novosti) - LUKoil (RTS: LKOH) shareholders voted Wednesday at an annual meeting of Russia's largest independent crude producer to increase dividends 18% year on year to 33 rubles (about $1.22) per share.

LUKoil, which is 17% owned by U.S. giant ConocoPhillips, paid 28 rubles (about $1.04) per share in 2004.

The oil company, which saw its U.S. GAAP net profit rise 51.7% year on year in 2005 to $6.44 billion, intends to pay out dividends from July through December 2006.

LUKoil has charter capital of 21.26 million rubles ($779.5), with all ordinary shares worth 0.025 rubles at par value.

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