LUKoil expected to pay $0.46 per share in 2001 dividends

The Board of Directors of LUKoil, a Russian oil giant, will recommend to the company's annual general shareholders' meeting that is slated to be held tomorrow, to pay 2001 dividends of RUR15 (around $0.46) per common share with a nominal value of RUR8 (around $0.25). Such a sharp increase in dividend payments is due to the fact that in 2001 LUKoil converted its preferred shares into common shares. The dividends for the company's preferred shares for 2000 were RUR59.16 (around $1.88).

The company's annual general shareholders' meeting will also elect 11 members of the Board of Directors of LUKoil and three members of the revision commission.

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