Dividend policy

The dividend policy of PJSC TATNEFT is elaborated in compliance with the Federal Law «On joint-stock companies» and the Company's Articles of Association. According to the Articles of Association, holders of privileged shares are entitled to receive an annual fixed dividend,which is equal to 100% of the share face value, unless the General meeting of the shareholders decides otherwise (clause 5.4).

When determining the dividend amount (per share) recommended to the General Meeting of Shareholders, the decision of PJSC TATNEFT’s Board of Directors is based on the amount of net profit under RAS or IFRS, depending on the availability of published financial statements for the relevant period, and assuming that the target level the total funds allocated for dividends payment accounts for least 50% of the net profit amount determined by RAS or IFRS, whichever is greater. When determining the recommended dividend amount, the Board of Directors takes into account the liabilities and the investment program, as well as the need for working capital and the necessary reserves for the normal operation of PJSC TATNEFT.

Dividends for Ordinary and Preference Shares.

Reporting periodPer share (RUB)Accrued
(RUB million)
Paid out*
(RUB million)
2013   
privileged8.231,2141,210
ordinary8.2317,93117,922
total: 19,14519,132
    
2014   
privileged10.581,5611,553
ordinary10.5823,05023,034
total: 24,61124,587
    
2015   
privileged10.961,6171,610
ordinary10.9623,87823,858
total: 25,49525,468
    
2016   
privileged22.813,3653,349
ordinary22.8149,69649,657
total: 53,06153,006
    
9 months of 2017   
privileged27.784,0984,081
ordinary27.7860,52460,480
total: 64,62264, 561
    
2017 (annual**)   
privileged12,161,7941,786
ordinary12,1626,49326,474
total: 28,28728,260
    
2017 (total for the year)   
privileged39.945,8925,867
ordinary39.9487,01786,954
total: 92,90992,821
    
6 months of 2018   
privileged30.274,4654,446
ordinary30.2765,94965,896
total: 70,41470,342
    
9 months of 2018   
privileged22.263,2833,270
ordinary22.2648,49848,455
total: 51,78151,725
    
2018 (6 m. + 9 m.)   
privileged52,537,7487,716
ordinary52,53114,447114,351
total: 122,195122,067
    
2018 (annual**)   
privileged32,384,776 4,755
ordinary32,3870,546 70,492
total: 75,322 75,247
    
2018 (total for the year)   
privileged84,9112,525 12,471
ordinary84,91184,992 184,843
total: 197,517 197,314

* - dividends were not received by shareholders and nominal holders due to the late submission of reliable and complete information necessary to receive the dividends.
** - dividend rate accrued for the year, excluding previously paid interim dividends