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Russia's Rosneft to pay dividends at 25 pct of net profit - Interfax cites CEO

Reuters - UK Focus

MOSCOW, Feb 13 (Reuters) - Russia's Rosneft will continue to pay out 25 percent of its net profit in dividends, the company's Chief Executive Igor Sechin was quoted as saying by Interfax news agency.

Earlier this month, Rosneft changed the way it accounts for foreign exchange fluctuations, a move that avoids the cost of billions of dollars of debt hitting profits and depleting dividend payments to state coffers.

Rosneft - 69.5 percent state-owned and run by Sechin, an ally of President Vladimir Putin - said net debt was $45 billion at the end of September. Russia's rouble currency lost half of its value against the U.S. dollar last year. (Reporting by Katya Golubkova; Editing by Alexander Winning)