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 June 9th, 2018 approved the dividend payable per ordinary share at RUB 15 (including dividends for 9 months of 2017 in amount 10 RUB for ordinary share). The total dividend payable in respect of 2017 is RUB 71 119 494 585 (including dividends for 9 months of 2017 in amount RUB 47 412 996 390).

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 23 706 498 195.00
  • D22 = RUB 5 555 325.57

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

2013 20142015 2016 2017
Dividend per share (RUB): 9.38 6.47 (incl.
dividends for
2014H1)
6.47 (incl.
dividends for
2015H1)
10.68 15 (incl.
dividends for
9M2017)
Total dividend per class of shares (RUB): 44 473 390 614 30 676 208 66430 676 208 664 50 637 080 144 71 119 494 585
% of US GAAP/IFRS net income: 25% 25%28% 25% 28%
Date of forming the list of persons to receive dividends: 06.23.2014 06.22.201506.27.2016 26.06.2017 26.06.2018
Date of the meeting of the Issuer's governing body, at which the resolution to pay dividends was adopted, date and no. of minutes: 06.06.2014
Minutes 
№ 0101/01
of 06.06.2014
05.06.2015
Minutes
№ 0102/18 
of 05.06.2015
06.10.2016 
Minutes
№ 0101/01
of 06.14.2016
09.06.2017
Protocol
№ 0101/01
of 14.06.2017

09.06.2018
Protocol
№ 0101/01
of 13.06.2018

Dividend payment period: by 07.28.2014 by 07.27.2015by 08.01.2016 by 31.07.2017 by 31.07.2018
Method of payment and other terms: 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: June 2018