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 ON ORDINARY AND PRIVILEGED SHARES (IN RUR PER ONE SHARE)

SHARE TYPE% OF THE NOMINAL VALUEDIVIDEND AMOUNT
2008  
ordinary442%4,42
privileged442%4,42
2009  
ordinary656%6,56
privileged656%6,56
2010  
ordinary502%5,02
privileged502%5,02
2011*  
ordinary708%7,08
privileged708%7,08
2012  
ordinary860%8,60
privileged860%8,60
2013  
ordinary823%8,23
privileged823%8,23
2014  
ordinary1058%10,58
privileged1058%10,58
2015  
ordinary1096%10,96
privileged1096%10,96
2016  
ordinary2281%22,81
privileged2281%22,81
9m2017  
ordinary2778%27,78
privileged2778%27,78
2017  
ordinary3994% 39,94
privileged3994% 39,94
6m2018  
ordinary3027%30,27
privileged3027%30,27
9m2018  
ordinary5253%52,53
privileged5253%52,53
* amount of dividends recommended by the Board of Directors for desicion -making by the Meeting of the Shareholders

The amount of dividends for the period is indicated as a cumulative total, taking into account the dividends paid earlier