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|
|Enterprise development||247,673||1,419 426||1,224,523|
|Recovery of losses of previous periods||0||0||0|
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.
|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.