11/07/2012| 08:26am US/Eastern
By Shane Romig
BUENOS AIRES--State-run oil and gas producer YPF SA (YPF, YPFD.BA) saw its profits during the third quarter plunge 51% on the year to ARS756 million ($159 million), the company reported Wednesday.
Profit during the quarter was affected by the booking of a deferred tax during the quarter that diminished the result by ARS408 million, YPF said in an exchange filing.
YPF also announced a dividend of ARS303 million to be paid on Nov. 19.
Earlier this year, President Cristina Kirchner expropriated a 51% stake in YPF, Argentina's largest oil and gas producer, from Spain's Repsol SA (REPYY, REP.MC) in a dispute over investment. The government has hinted that Repsol might not receive any compensation.
YPF's shares were up 1.3% at ARS72.25 in early trade.
Write to Shane Romig at shane.romig@dowjones.com
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