Dividend policy Print version

The dividend policy of OAO TATNEFT is determined by Federal Law «On joint-stock companies» and the Company's Articles of Association. Acc. to the Articles of Association, holders of privileged shares have a right for obtaining an annual fixed dividend, being equal to 100% of the share denomination, if otherwise is not decided by the general shareholders meeting
(clause 5.4).

Decision on the amount of dividends for ordinary shares is made by the general shareholders meeting on the basis of the recommendation of the Board of Directors of the Company. The Company continues adhering to a positive dividend trend, increasing the amount of dividend
payments during several years.

According to the results of TATNEFT activity in 2007, the total sum of dividends for the preferred and equity shares amounted to RUR 13.1 billion or 30% of the net annual profit in 2008. The value of dividends charged per 1 share amounted to 5.65 rubles (565% of the share face value.

The dividend's return calculated by the market cost of ordinary shares amounted to 10.7% by the end of 2008.

DIVIDENDS ON ORDINARY AND PRIVILEGED SHARES (in RUR per one share)

SHARE TYPE% OF THE NOMINAL VALUEDIVIDEND AMOUNT
2005
ordinary shares100%1
privileged shares100%1
2006
ordinary shares460%4,6
privileged shares460%4,6
2007
ordinary shares565%5,65
privileged shares565%5,65
2008
ordinary shares442%4.42
ordinary shares442%4.42

* value of dividends recommended by the Board of Directors for decision-making by the Meeting of the Shareholders


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