Date: 6 months ago   Category: Energy

VTB Capital: the dividend yield on stocks of Rosneft can grow to 11% in 2019 — Rambler News Service


The dividend yield on stocks of Rosneft can grow next year to 11% in case of preservation of a favorable macroeconomic environment. This year the indicator can reach 7,2%, writes "Prime" with reference to the forecast of analysts of VTB Capital. For January-August Rosneft has increased oil production for 2% in annual terms and in general has shown the good growth of operational indicators, it is told in the forecast. "Emphasis on development of the fields having tax benefits in combination with essential restoration of prices of oil promote noticeable improvement of financial performance of the company (in 1p18 her profit has grown by 281% of % of yoy)" — experts write. Analysts note that the volume of tax benefits considerably depends on the changes in price for oil. "According to our basic scenario (oil of 72$/barrel, USDRUB 67), external and internal regulatory changes can bring in addition in 2019 to Rosneft $2,7 billion at the level of EBITDA. The company has to benefit both from introduction of NDD, and from further increasing extraction of tight oil (according to plans of the company, by 2020 its volume has to grow to 33 million tons — against about 19 million tons at the moment, according to our assessment). The tax benefits connected with high water content of Samotlor field will bring to Rosneft in 2019 $0,5 billion. In addition, we believe that support to the overworking business of the company will be given by introduction of floating excises" — experts consider. On October 3 the value of the stock of Rosneft at the Moscow exchange has exceeded during trading a mark of 500 rub for paper therefore market capitalization of the company has at that time exceeded 5,2 trillion rub. In total since the beginning of year on October 3 of a stock of Rosneft have risen in price more than for 50%.

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