(OFFICIAL)-UPDATE 1-Russia's Rosneft recommends 2015 dividend of 11.75 rbls per share

MOSCOW, April 22 (Reuters) - Rosneft, Russia's biggest oil producer, said on Friday its board had recommended paying a dividend of 11.75 roubles per share on its profits last year, up from the 8.21 roubles paid for 2014.

The dividend payout will total 124.5 billion roubles ($1.87 billion), or 35 percent of Rosneft's net profit under the international financial reporting standard (IFRS), the company said in a statement.

The payout is less than the dividend rate of 50 percent of net profits that Russian Prime Minister Dmitry Medvedev has ordered state-owned companies to pay in an attempt to replenish state coffers hit by the collapse in oil prices.

Russian Finance Minister Anton Siluanov said last week the 50 percent payout rate should be mandatory for all state companies.

Rosneft is 69.5 percent owned by state-controlled company Rosneftegaz, while BP owns 19.75 percent.

The company's relatively low rate level of payout could prove a blow to Medvedev's plans to raise an additional 100 billion roubles ($1.5 billion) for the federal budget.

Chief Executive Igor Sechin, a long-standing ally of President Vladimir Putin, has previously squared off against Medvedev, who is seen as a dove in Russia's political circles. ($1 = 66.5600 roubles) (Reporting by Vladimir Soldatkin and Jack Stubbs; Editing by Lidia Kelly and Greg Mahlich)