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YPF to pay US$360mn dividends

Bnamericas
Spanish oil company Repsol-YPF's Argentine subsidiary YPF will pay dividends of 2.6 pesos a share from July 15, the company said in a statement. The total payout is some 1bn pesos (today about US$360mn) credit rating agency Standard and Poor's (S&P) said in a statement, adding that the payment will not affect YPF's credit quality given its sound financial profile and strong cash flow generation since the second quarter 2002, due to unusually high crude prices. S&P currently assigns its BB+ local currency rating to YPF, with a positive outlook. The foreign currency rating is BB, with a stable outlook.

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