TNK-BP, which is a joint venture between BP Plc (NYSE:BP) and a group of Russian billionaires, announced they'll be paying out an interim dividend of $4.16 billion to their shareholder.
The 50-50 joint venture, will pay an interim dividend for a nine-month period.
The amount of the dividend will be more than than the company generated in first-half net income. Dividends paid out in the first half were $2.434 billion.
In November TNK-BP shareholders will vote on whether or not to approve the dividend. It will be the highest dividend paid out in the history of the joint venture if it is approved.
Results for the third quarter of the company have yet to be announced.
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