Dividends

Dividend policy is one of the most important elements of corporate governance, and a key indicator of a company’s adherence to fulfilling shareholder rights.

The Gazprom Neft PJSC General Meeting of Shareholders on December 15th, 2017 approved the dividend payable per ordinary share at RUB 10. The total dividend payable in respect of 9 months of 2017 is RUB 47, 413 mln.

Information for tax agents

Pursuant to Article 275 of the Tax Code of the Russian Federation, values for the calculation of taxes due on dividends paid are set as follows:

  • D11 RUB 47, 412,996,390.00
  • D22 = RUB 4, 887,225.00

The main principles of Gazprom Neft’s PJSC dividend policy are:

  • Ensuring maximum transparency in determining dividend payments and the procedure for their distribution..
    A minimum level for the payment of annual dividends on shares in the company is determined under the company’s dividend policy; such minimum level being no less than the following:

    • 15 percent of Gazprom Neft Group net profits (IFRS);
    • 25 percent of the company’s net profit (RAS).

  • Adherence to legislation currently in force in the Russian Federation, as well as the company’s Charter and internal regulation.
    Every shareholder included in the Register of Shareholders as at the date determined by the General Meeting of Shareholders at which any decision on the payment of dividends is adopted is entitled to receive dividends. This date, however, cannot be earlier than 10 days from the date of any resolution on the payment of dividends being adopted (and/or publicized), or later than 20 days following the adoption of such resolution.

  • A commitment to ensuring high standards of corporate governance.
    The company is committed to ensuring consistent and sustainable increases in dividend payments subject to increases in the company’s net profit.

    Approved regulations on the dividend policy of Gazprom Neft PJSC can be found on the company’s official website, where information on historical dividend payments can also be found.

DIVIDEND HISTORY

2011 2012 2013 20142015 2016 9M 2017
Dividend per share (RUB): 7.3 9.3 9.38 6.47 (incl.
dividends for
2014H1)
6.47 (incl.
dividends for
2015H1)
10.68 10.0
Total dividend per class of shares (RUB): 34 611 487 365 44 094 086 643 44 473 390 614 30 676 208 66430 676 208 664 50 637 080 144 47 412 996 390
% of US GAAP/IFRS net income: 22% 25% 25% 25%28% 25% 25%
Date of forming the list of persons to receive dividends: 04.24.2012 04.23.2013 06.23.2014 06.22.201506.27.2016 26.06.2017 29.12.2017
Date of the meeting of the Issuer's governing body, at which the resolution to pay dividends was adopted, date and no. of minutes: 06.08.2012
Minutes NO. 0101/02
of 06.14.2012
06.07.2013
Minutes NO. 0101/03
of 06.17.2013
06.06.2014
Minutes NO.
0101/01
of 06.06.2014
05.06.2015
Minutes NO.
0102/18 
of 05.06.2015
06.10.2016 
Minutes NO.
0101/01
of 06.14.2016
09.06.2017
Protocol
No. 0101/01
of 14.06.2017
15.12.2017
Protocol
No. 0101/02
of 20.12.2017
Dividend payment period: by 08.07.2012 by 08.06.2013 by 07.28.2014 by 07.27.2015by 08.01.2016 by 31.07.2017 by 12.02.2018
Method of payment and other terms: In cash In cash In cash In cashIn cash In cash In cash

 

 

History of dividend payments you can find here.

Answers on frequently asked questions about dividend payment and Company dividend policy you may find here.

1 - D1 – the total amount of dividends available for distribution by a Russian organisation in favour of all recipients.
2 - D2 – the total amount of dividends received by a Russian organization in the current accounting (tax) period and the previous accounting (tax) period (excluding dividends as stipulated in sub-paragraph 1, item 3 of Article 284 of the Tax Code) as at the time of such distribution of dividends payable to taxpayers/dividend recipients, provided that such total dividends payable have not previously been accounted for in determining the tax base in respect of income(s) received by any Russian organisation as dividends.

 

Last update: January 2018