Preferred shares of Surgutneftegaz have risen in price by 20%

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Surgutneftegaz announced the payment of dividends for 2021. Against the backdrop of this news, the price of the company’s preferred shares immediately jumped by 20%.

Based on the results of the meeting of the Board of Directors of Surgutneftegaz, it was recommended to pay dividends for the previous year. One ordinary share will cost 80 kopecks, and each preferred share will cost 4 rubles 73 kopecks. Taking into account the value at the close of trading on Wednesday, the yield on shares is up to 14.2%. After the release of this news, prices for preferred papers increased by 20% and reached 40 rubles. For ordinary shares, the price jumped not so much: it added 4.2% and up to 24 rubles.

The final decision on the payment or non-payment of dividends has not yet been made. A general meeting to discuss this issue is scheduled for June 30. If the recommendation is accepted, the register of shareholders will be closed on July 20. To be included in the list of recipients of the payment, you must be on this list two days before closing – no later than July 18.

Experts noted that the recommended dividend was even higher than expected. Last year, the payout for ordinary shares was less, at 70 kopecks, while preferred shares received 6.7 rubles per share.

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