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Dividends

Dividend Policy

On 19 February 2014 the Board of Directors approved the revised dividend policy. The revised dividend policy is based on the following principles:

  • An annual dividend payment funded from net profit of the Company for the reporting year and undistributed net profit for past years in accordance with Russian Accounting Standards;
  • A balance between the interests of the Company and its shareholders;
  • A desire to increase our market capitalisation and investment attractiveness;
  • Observing shareholder rights set out in Russian legislation and in accordance with best practices in corporate governance;
  • Transparency in the process of setting and paying out dividends.

Dividend payments are approved by the General Meeting of shareholders based on recommendations of the Board of Directors. 

The new policy recommends a 25% of the Company’s net profit calculated as per Russian Accounting Standards as a benchmark dividend pay-out ratio. The dividend pay-out ratio can be set either at lower than 25% or higher than 25% of net profit depending on the Company’s financial and operating metrics, including the investment programme, free cash flow and debt payment schedule. 

The term of payment of dividends to a nominal holder and to a trustee acting in its capacity of a professional securities market participant registered in the register of shareholders shall not exceed 10 working days; the term of payment of dividends to other persons registered in the register of shareholders shall not exceed 25 working days from the date used to determine the persons entitled to receive dividends.

The Company informs its shareholders on the dividend announcement and distribution by the means of press-releases and statements of material facts published on the Company’s web-site.

Dividend History

For Fiscal year Total Dividend (RUB Million) Dividend per 1 share (RUB) Dividend / Net Income (RAS) Declaration Date Pay Out Date
2006 144.2 10.38 10.0% 04/07/2007 13/08/2007
2007 153.3 11.03 10.0% 11/07/2008 22/08/2008
2008 268.0 19.29 10.0% 26/06/2009 20/08/2009
2009 2.2 0.16 10.0% 25/06/2010 10/08/2010
2010 40.4 2.91 10.0% 28/06/2011 18/08/2011
2011 1 218.3 87.68 35.0% 26/06/2012 25/07/2012
2012 1 204.26 86.67 25.0% 26/06/2013 07/08/2013
2013 1 132.01 81.47 25.0% 24/06/2014 22/07/2014
2014 985.97 70.96 25.0% 24/06/2015 23/07/2015
From undistributed net profit for past years 3 499.26 251.84 N/A 09/09/2016 04/10/2016
1H 2016 1 330.56 95.76 100% 09/09/2016 04/10/2016
2H 2016 650.41 46.81 50% 22/06/2017 25/07/2017
2017 4 071.73 293.04 75% 15/05/2018 08/06/2018
2018 6 674, 63 480,37 75% 21/05/2019 06/06/2019
1H 2019 2 147,72 154,57 35% 23.09.2019 10.10.2019
9 months 2020 10 874,47 782,63 78,4 14.12.2020 28.12.2020
2020 3 000,02 215,91 21,6 30.04.2021 12.05.2021
1H 2021 4 600, 00 331,06 50,6 30.07.2021 11.08.2021
9 months 2021 4 850,11 349,06 34,6 16.11.2021 29.11.2021