By Joe Hoppe
The board of Novatek recommended Tuesday that shareholders approve a proposed interim dividend for the first half of 2020 of 11.82 Russian rubles (16 cents) per ordinary share, and set new environmental targets.
The Russian energy company said that following a discussion of the company's financial and operational results in the first half of the year, it will convene an extraordinary general meeting of shareholders on Sept. 30.
If approved by shareholders, the total dividend payout would amount to RUB35.89 billion.
The company added that the board has approved new environmental targets for the period up to 2030, using more liquid natural gas in place of other fossil fuels. It will target 20% less air pollutants per unit of production, the reduction of greenhouse gases in its Upstream segment by 6% and liquid natural gas by 5%, an increase in associated petroleum gas utilization to 99%, and improved waste disposal.
"We set ambitious targets that will contribute to the reduction of greenhouse gas emissions to meet global climate change initiatives, as well providing affordable, secure and sustainable, clean-burning natural gas to our customers for many decades," said Deputy Chairman Mark Gyetvay.
Shares at 1328 GMT were up RUB3.2, or 0.3%, at RUB1144.6.
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