SGTPY - Surgutneftegaz: Receive 18% Dividend Yield And Imagine Yourself As A Russian Oligarch For A Moment
Oil giant Surgutneftegas accounts for 11% of Russian oil production, making it the third largest oil farmer in the country. Despite favorable oil prices, the price of common shares has fallen sharply, making the company look extremely cheap. On the other hand, the preferred share (the blue line in graph 1) have performed a lot better. The holders of the preferred shares also receive considerably more dividend. Surgutneftegaz is a remarkable company that explanation.
Graph 1: price development of the common share (candlesticks) and the preferred share (blue line) over the past 2 years.
Source: