29 September 2009 12:16 [Source: ICIS news]
LONDON (ICIS news)--Finland's Neste Oil reiterated its financial targets for 2009 at its Capital Markets Day on Tuesday, including providing investors with a dividend of at least a third of its net profit.
“Its financial targets also remain unchanged: a ROACE [returns on average capital employed] of at least 15% annually, a leverage ratio of 25-50%, and dividend policy, which calls for a payout equivalent to at least a third of comparable net profit,” the company said in a statement.
Neste Oil added that it expected to invest around €890m ($1.3bn) in 2009, €920m in 2010 and €350m in 2011.
“The figure for 2010 includes a scheduled major maintenance turnaround at the Porvoo refinery,” it added.
($1 = €0.68)
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