Dividends

Our dividend policy is based on the balance of interest between the Company and its shareholders over dividends as well as respect and strict adherence to the observation of shareholder rights guaranteed by the Russian legislation, Charter and other bylaws of the Company. It focuses on increasing our investment attractiveness and market value.

According to the approved dividend tenets (BoD Minutes No.73 dated as of 31.08.2010) dividends are distributed from net profit (no financial investments revalued) after deduction of obligatory reserve charges, investment program expenditures as well as clearing off of the previous operating losses. Besides, the tenets have approved key conditions concurrent execution of which is crucial for dividend payment:

- The Company should have net profit (no financial investments revalued);

- YE Debt/EBITDA ratio should not exceed 3;

- Set indicators for reliability and quality should be achieved.

To view the Regulations on the Company’s Dividend Policy (BoD Minutes No.73 dated as of 03.09.2010), please, visit our official website (Section “Incorporating Documents and Bylaws”).

On 05 June 2017 the Annual General Shareholder Meeting, reviewing FY2016 operating and financial results, decided to pay RUB 725,673 thous. as dividends. A dividend per share amounted to RUB 0.0083. The dividends were paid to shareholders within the legally set terms.

Net income distribution and previous dividend history:

 

Net income

(RUB thous.)

Payments to reserve fund (RUB thous.)

Enterprise evolution (RUB thous.)

Recovery of past losses

(RUB thous.)

Dividends

(RUB thous./% in net income)

Dividend per share, RUB

2016 3,305,554 0 2,579,881 0 725,673 (22.0%) 0.0083
2015 2,466,036 0 1,224,523 0 1,241,513 (50.3%) 0.0142

2014

2,006,783

80,260

1,419,426

-

507,097 (25.3%)

0.0058

2013

354,581

17,729

247,673

-

89,179

(25.2%)

0.00102

2012

625,814

31,291

438,022

-

156,501 (25.0%)

0.00179

2011

2,548,050

127,402.5

2,175,842

-

244,805

(9.6%)

0.0028

2010

1,684,773

84,239

1,355,729

-

244,805 (14.5%)

0.0028

2009

1,053,267

52,553

1,000,714

-

-

-

2008

861,352

43,068

818,284

-

-

-

2007

4,008

-

-

-

4,008

(100%)

0.0015941

 

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