The shareholders' meeting of Lukoil on June 21 approved the payment of dividends for 2017 in the amount of 130 rubles per share. Taking into account the interim payments for nine months (85 rubles), the total dividend payments for the year will be 215 rubles per share, which is 10% more than in 2016. In total, 182.9 billion rubles will be allocated for the payment of dividends for the results of 2017 - almost 44% of the net profit of "Lukoil" under IFRS, which increased more than twice in a year, to 419 billion rubles.
According to calculations by Forbes, the main shareholders of Lukoil Vagit Alekperov and Leonid Fedun7 will receive $ 783.3 million and $ 294.8 million, respectively (taking into account interim payments at the rate of December 22, 2017 and before taxes). Alekperov owns 24.8% in Lukoil, Fedun shares 9.9%. Large stakes in the company belong to the structures of IFD Kapital (about 8%) and Lukoil Investment Cyprus (over 16%).
In 2018, Alekperov and Fedun are planning to increase their stakes in Lukoil's capital to 30% and 10%, respectively, through the repayment of treasury shares. In addition, within five years, the oil company plans to send $ 2-3 billion to buy back shares.
This year Lukoil, according to Alekperov, who holds the post of president of the company, marks a kind of anniversary: "20 years of continuous growth in dividends." "Our dividend policy guarantees shareholders a continuous growth of dividends at least by the value of ruble inflation," the billionaire noted at the shareholders' meeting.
"Lukoil" plans to increase not only dividend payments, but also oil production. In 2017, the company produced 87.4 million tons of oil, according to the results of the current Alekperov plans to increase it by 2%, he told Interfax in an interview. For the next ten years, plans are even more ambitious - to keep production at 100 million tons. Raiffeisenbank analyst Andrei Polischuk believes that the plan is optimistic. "I do not see any reason to increase production in Western Siberia (the main resource region of Lukoil, which accounts for about 45% of the production - Forbes), where it falls," Polishchuk said and assumes that Lukoil will be able to maintain production at last year's level , possibly, will be able to produce a little more than 90 million tons - due to the deposits of Timan-Pechora.
Alexander Kornilov, senior analyst for the oil and gas sector of Aton, on the contrary, believes that there are resources for LUKoil's production growth. The company has a number of projects in development - in the Caspian, the Baltic and Timan-Pechora. Now production in Western Siberia is down about 8%, but Lukoil is planning to reduce the rate of decline to 2-3% in mature fields. "This requires new production technologies," Kornilov sums up. - The Pyakyakhinskoye and Imilorskoye deposits (located on the Yamal Peninsula - Forbes) make it possible to smooth out the rate of decline to mature in Western Siberia. "
Alekperov himself in an interview with Interfax noted that the company is forced to follow the OPEC + agreement to limit oil production. However, the billionaire believes that it's time to go beyond the agreement. "Today the price is already too high, so it is necessary to increase production," Alekperov said. - This is prompted by a sharp drop in oil production, which is observed in some countries ... I think that at a price of $ 75 per barrel, you need to increase production by 50% of the level of imposed restrictions. " According to the president of Lukoil, the company will need only two to three months to increase production.