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)
To discuss issues facing the chemical industry visit ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections