OREANDA-NEWS. December 14, 2009. The Association for Protection of the Rights of Investors named the winners of the contest “Corporate Governance Leaders 2009.” TNK-BP Holding and Surgutneftegaz came out the best in the nomination “Company with the Best Dividend Policy” among companies of the fuel and energy sector, reported the press-centre of TNK-BP.

Every year Association members (25 Russian and foreign institutional investors) vote for choosing winners of the contest based on the results of corporate governance monitoring in Russian companies.

TNK-BP Holding consolidates the main Russian assets of TNK-BP Group. Minority shareholders own approximately 5% of JSC TNK-BP Holding. The company always tried to turn a considerable part of its profits into dividends and protect the interests of minority shareholders.
Corporate governance in TNK-BP, TNK-BP Holding and their subsidiaries is based on best practices. An institution of independent directors is successfully functioning at the Boards of Directors of these companies incorporating heads of major international companies worldwide.

For reference:
Members of the Association for Protection of the Rights of Investors are Alfa Bank, Aton Capital, Vostok Nafta Investment Ltd., Dart Management, Deutsche Bank AG, East Capital Asset Management, PIOGLOBAL Asset Management, Prosperity Capital Management, Renaissance Brokers, Templeton Asset Management, MC UralSib, Philip Morris Marketing and Sales, Equinox Finance Management, Hermitage Capital Management, Fleming Family & Partners, and other companies.