Corporate governance

Allocation of profit

Company’s dividend policy focuses on enhancement of Company’s investment prospects and market value, balancing between interests of the Company and its stockholders. The Company’s dividend policy is envisaged by the Regulations on Dividend Policy(94).

Fundamentals of the dividend policy are:

  • Dividends are basically calculated from the profit, no adjustments for revaluation of financial assets to be made;
  • Maintenance of required financial and technical status of the Company (execution of investment program), provision of Company’s development prospects;
  • Compliance of dividend calculation and distribution practices with laws of Russia and best corporate governance standards;
  • Optimal mixture of interests of the Company and its stockholders;
  • Required enhancement of Company’s investment prospects and its market value;
  • Provision of transparency of dividend calculation and distribution;
  • Dividends are distributed among holders of common shares only if holders of preferred shares collect all dividends as stated by the Company’s charter (if the Company has any preferred shares).

Allocation of profit*:

FY2013 (General meeting held in 2014) FY2014 (General meeting held in 2015) FY2015 (General meeting held in 2016)
Non-distributed net profit (loss) of the reported period, namely: 354,581 2,006,783 2,466,036
Reserve fund 17,729 80,260 0
Enterprise development 247,673 1,419 426 1,224,523
Dividends 89,179 507,097 1,241,513
Recovery of losses of previous periods 0 0 0
*Allocation of profit as decided by the Annual General Meetings of Stockholders:
AGSM held in 2014 (FY2013): Minutes No.7 dated as of 27.06.2014.
AGSM held in 2015 (FY2014): Minutes No.8 dated as of 18.06.2015.
AGSM held in 2016 (FY2015): Minutes No.9 dated as of 06.06.2016.

Pursuant to the Company’s charter, allocation of FY2016 profit will be decided upon by the Annual General Meeting of Stockholders.

Dividend report:

Resolution date Total accrued dividend, RUB DPS, RUB DPS, RUB Paid/Accrued, %
FY2015 Minutes No.9 dated as of 06.06.2016. 1,241,513,000 0.0142 1,230,151,099 99.01
FY2014 Minutes No.8 dated as of 18.06.2015. 507,097,000 0.0058 502,266,148.12 99.047
FY2013 Minutes No.7 dated as of 27.06.2014. 89,179,000 0.00102 88 228 612,45 98,93

Unfortunately, persons, included into the list of persons entitled to collect dividends, collected no dividends since they had not provided the registrar with relevant information on details required for dividend transfers.

Здесь вы можете скачать полный отчет 2016, отдельные главы в формате PDF и наиболее важные таблицы в формате Excel.
1About company
1.1Mission and strategic goals
1.2Market share
1.3Key 2016 events
2Board of directors’ progress report
2.1Letter to stockholders
2.2Production capital formation
2.2.1Network exploitation
2.2.2Electricity transmission
2.2.3Technological connection
2.2.4Development of telecommunications and IT systems
2.2.7Efficacy enhancement
2.3Financial capital formation
2.3.1Analysis of revenues and expenses
2.3.2Analysis of financial standing
2.3.3Analysis of receivables and payables
2.3.4Analysis of credit portfolio
2.3.5Description of tariff policy
3Corporate governance
3.1Corporate governance practices
3.2Corporate governance system
3.2.1General meeting of stockholders
3.2.2Board of Directors
3.2.3Board of directors’ committees
3.2.4General director and executive board
3.2.5Remuneration and compensation policy
3.3Oversight system
3.3.1Board of internal auditors
3.3.2Independent auditor
3.3.3Internal control
3.3.4Risk management
3.3.5Security and anti-corruption
3.4Investor and stockholder relations
3.4.1Shareholder capital structure
3.4.2 Shareholder rights
3.4.3The company and stock market
3.4.4Communications with market participants
3.4.6Allocation of profit
4.1Human resources management
4.2Customer support
4.3Supplier relationship management
4.4Public and goverment relations
4.5Environment protection
5.1Prepared under Russian accounting standards
5.2Prepared under international financial reporting standards
5.3Related-party transaction report
5.4Corporate governance code compliance report
5.6Abbreviations and acronyms