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 June 10th, 2016 approved the dividend payable per ordinary share at RUB6.47 (including dividends payable in respect of H12015 in the amount of RUB5.92 per ordinary share). The total dividend payable in respect of FY2015 is RUB30,676,208,664, being 28 percent of consolidated net income, calculated in accordance with IFRS.
Gazprom Neft PJSC continued its policy, adopted in 2013, of paying half-yearly interim dividends. The continuation of this policy further endorses the company’s high standards of corporate governance.
The main principles of Gazprom Neft’s PJSC dividend policy are:
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 per share (RUB):||7.3||9.3||9.38||6.47 (incl. dividends for 2014H1)||6.47 (incl. dividends for 2015H1)|
|Total dividend per class of shares (RUB):||34 611 487 365||44 094 086 643||44 473 390 614||30 676 208 664||30 676 208 664|
|% of US GAAP/IFRS net income:||22%||25%||25%||25%||28%|
|Date of forming the list of persons to receive dividends:||04.24.2012||04.23.2013||06.23.2014||06.22.2015||06.27.2016|
|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
Minutes NO. 0101/03
|Dividend payment period:||by 08.07.2012||by 08.06.2013||by 07.28.2014||by 07.27.2015||by 08.01.2016|
|Method of payment and other terms:||In cash||In cash||In 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.
Last update: June 2016
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.