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).
Decision on the amount of dividends for ordinary shares is made by the general shareholders meeting based on the recommendation of the Board of Directors of the Company. The Company continues adhering to the positive dividend policy maintaining a high level of dividends payments every year.
The Company successfully ensures a progressive capitalization growth, which is the basis for a high dividend yield on the capital invested by the shareholders. The Board of Directors proposed to the General Meeting of Shareholders on the results of 2017 to approve dividends on ordinary and preference shares in the amount of 3,994% of the face value (RUB 39.94 per share), taking into account the previously paid dividends for the nine months period of 2017, and to allocate about 75% of the Company's net profit under IFRS for dividend payment, which accounts for RUB 92.9 Billion.
DIVIDENDS ON ORDINARY AND PRIVILEGED SHARES (IN RUR PER ONE SHARE)
|SHARE TYPE||% OF THE NOMINAL VALUE||DIVIDEND AMOUNT|
|* amount of dividends recommended by the Board of Directors for desicion -making by the Meeting of the Shareholders|