TNK-BP to pay dividend: report

Russian oil venture, TNK-BP, is set to spend almost all of its 2010 profit in the form of a dividend, business daily Vedomosti said, citing two sources at TNK-BP. The newspaper said the board of TNK-BP Holding, the traded unit of TNK-BP, recommended paying 3.85 (8p) rubles per share on fourth-quarter dividend, or 59.47bn rubles total. The 2010 dividend would account for 97 per cent of net profit, according to Russian Accounting Standards.