Our Dividend Policy

The dividend policy of IDGC of Urals, OAO is based on the balance of interest between the Company and shareholders at the determination of the dividend amount as well as respect and strict adherence to the observation of shareholder rights stipulated by the Russian legislation, the Charter and our internal documents. It is aimed at increasing our investment attractiveness and market capitalization. According to the approved policy principles dividends are distributed from the net profit (without revaluation of financial investments) following its distribution to obligatory reserves, investment program as well as clearing off of the operating losses shown in previous years. Besides, there are the following new approved conditions which are obligatory for fulfillment while deciding on the dividend payout:

- Presence of the net profit without revaluation of financial investments;

- Debt/EBITDA ratio as of the year end should not exceed 3;

- Achievement of the set reliability and service quality indicators.

To view the Regulations on the Company's dividend policy (BoD Protocol #73 dd. 03.09.2010), please, visit our corporate web-site at: http://www.mrsk-ural.ru/en/374 (Section Internal Documents).

IDGC of Urals, OAO has decided not to pay intermediate (quarterly) dividends and dividends as of 2005-2006.

In April 2008 the management board of RАО UES of Russia, ОАО that performed functions of our Company's AGSM, decided to pay out RUR 4.0 mln. as dividends as of 2007.

On June 19, 2009 the Company's AGSM decided to pay no dividends as of 2008 fiscal year.

On June 25, 2010 the AGSM decided not to pay 2009 dividends. According to the resolution net profit, equaling RUR 1 053 267 thous., was distributed as follows: profit for further enterprise development - RUR 1 000 714 thous., reserve fund - RUR 52 553 thous.

On June 16, 2011 our AGSM has decided to pay out RUR 245 550 thous. as dividends. The amount of dividend per share totals RUR 0.0028.