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Dividends

The dividend policy is intended to establish a transparent and efficient mechanism for determination of the size of dividends and the relevant payment procedure, as well as the determination of the Board’s strategy for drawing up recommendations in regard to the size of dividends and the terms and procedures of payment thereof.

In making its decisions in regard to dividend payments, the Company follows the principle of balance between the growth of capitalization with the growth of dividends resulting from the size of the net profit for the respective period, and the Group’s production and investment activity development needs.

The Company adopted a new dividend policy to maintain a consistently high level of the dividends and comply with the industry’s best practices. According to the new terms, starting from 2018, the dividends are calculated based on the IFRS consolidated financial statements.

The dividend policy is intended to establish a transparent and efficient mechanism for determination of the size of the dividends and the procedure for payment thereof, as well as determination of the strategy of the Board for development of the recommendations on the size of the dividends, the terms and procedures of payment thereof.

History of dividend payments

Period Dividend per share, RUB Declared dividend, RUB m Payout ratio, %*
2020** 54,56 4 500
9M 2020 27,28 1 500 37%
6M 2020 54,56 3 000 39%
2019 14,93 2 321
12М 2019 27,28 1 500 30%
6M 2019 14,93 821 30%
2018 18,55 3 095
12М 2018 2,90 159 30%
9M 2018 34,83 1 915 44%
6M 2018 18,55 1 020 30%
2017 40,70 2 238
12М 2017 27,97 1 538 53%
6M 2017 12,73 700 43%
2016 39,63 2 179
12М 2016 19,85 1 091 34%
6M 2016 19,78 1 088 31%
2015 37,96 2 087
12М 2015 18,15 998 41%
6M 2015 19,81 1 089 40%
* According to dividend policy valid at the date of dividend approval, payout base is EBITDA for the reporting period starting 2018. Before 2018 payout base was Net profit for the reporting period.
** Does not include 12M 2020 dividends that are to be approved at AGM in Q2 2021. Payment is due in Q3 2021.

Base for calculating dividend payments

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