The number of Rosneft Oil Company shareholders grew to 1.5m in 2024

As Rosneft Oil Company has paid dividends continuously since 1999, the number of individual shareholders increased by almost a third to 1.5 million in 2024 alone, according to the financial performance for the past period published by the company.

As can be inferred from the document, in 2024 Rosneft Oil Company achieved growth in key financial indicators, despite higher taxes, outpacing inflation, rising interest rates and intensified sanctions pressure. It retains the status of the largest taxpayer of the Russian Federation, continuing to ensure the stability of the budget system and contribute to the country’s social and economic development.

As of year-end 2024, the company transferred 6.1 trillion rubles of taxes to the federal budget, which is equivalent to 17% of all state revenues. This is the greatest figure not only in the history of the holding, but also for the Russian market as a whole. Of this amount, RUB 256 billion were dividends paid.

“In the interests of our shareholders and in full compliance with our dividend policy, we paid an interim dividend of RUB 36.47 per share in February. The Company has been continuously remitting dividends since 1999. The dividend base has been unchanged since 2011, which ensures transparency and predictability of the dividend amount. I am pleased to note that over the last year alone the number of our shareholders increased by almost a third, reaching 1.5 million people,” Igor Sechin the CEO of Rosneft Oil Company, commented on the results.

In 2024, Rosneft Oil Company’s revenue grew by almost 11% to 10.1 trillion rubles, while earnings before interest, taxes, deprecation and amortization (EBITDA) increased to 3 trillion rubles, up 0.8%. These are two more records for the company in the past period. Against this background, it maintains its leadership in terms of implementing promising large-scale projects in the industry. Over the 12 months, its capital expenditures grew by 11.2% to RUB 1.4 trillion.

However, in response to external challenges and domestic factors, the company is forced to adjust its strategy for the purpose of maintaining its intrinsic value. For example, in order to support share prices during periods of their sharp decline in 2024, the buyback practice was continued: in late October – early November, Rosneft Oil Company successfully bought back about 2.6 million of its own shares from the market at an average price of 443.7 rubles. It previously did the same at the height of the COVID-19 pandemic.