OREANDA-NEWS. May 30, 2007. The Company's Board of Directors made a decision at its session to recommend that the annual General Meeting pay dividends on Transneft's shares based on the 2006 performance, to total 822,700,113 roubles 71 kopecks, reported the press-centre of  Transneft.

Specifically, the recommendation provides for the payment on the ordinary stock (4,664,627 shares) to amount to 101 roubles 23 kopecks per ordinary share, totalling 472,200,191 roubles 21 kopecks; on preferred stock (1,554,875 shares), to amount to 225 roubles 42 kopecks per preferred share, totalling 350,499,922 roubles 50 kopecks.

The dividend payment arrangements will be as follows. On ordinary stock: by transfer of monies into the bank account specified by a competent agency.

On preferred stock: to shareholders that are legal entities, by transfer of monies into the bank account specified in the register of shareholders; to shareholders that are natural persons, by postal order to the address specified in the register of shareholders, or by transfer into the bank account specified in the questionnaire of the registered stockholder.

The payment of dividends on preferred stock is to be effected in the following order of priority:
- such persons and entities as are residents of the Russian Federation, including customers of nominee holders;
- such persons and entities as are non-residents of the Russian Federation, including customers of nominee holders.

Under Section 4 of Art. 42, Art. 51 of the Federal Law On Joint-Stock Companies, the Board of Directors set a date for producing a list of persons entitled to receive dividends: May 29, 2007.