Dividends
Dividend policy
The procedure for determining the amount of dividends paid
to PJSC NCSP shareholders and their payment is governed by the Regulation on Dividend Policy approved by the Board of Directors in 2007. The dividend policy is aimed at respecting the interests of all PJSC NCSP shareholders, and takes into account the need to increase the Company’s liquidity, capitalization and investment appeal.
The decision on the amount of dividends paid is made by the General Shareholder Meeting on the annual recommendation of the Board of Directors. When analyzing proposals for distribution of net profit and deciding on the share of profit to be set aside for dividends, the Board of Directors considers a number of factors, including:
- The actual amount of net profit earned by PJSC NCSP
- The need to support PJSC NCSP’s strategic development priorities, including the implementation of the investment program
- The need to fund PJSC NCSP’s contingency fund
- PJSC NCSP’s profitability, including return on assets and return on equity
- PJSC NCSP’s solvency and financial strength indicators, including current liquidity ratios
- Availability of working capital and debt ratio
No changes were made to the dividend policy in the reporting year.
| Year for which dividends declared | Date of General Meeting at which dividends declared | Date of record | Amount of declared dividends/share, RUB | Amount of declared dividends, RUB | Amount of declared dividends, USD 1 |
|---|---|---|---|---|---|
| 2018, 9 months | December 21, 2018 | January 9, 2019 | 0.2648 | 5,099,999,117.92 | 75,700,214.01 |
| 2017; 2018, 6 months | September 28, 2018 | October 9, 2018 | 0.519216 | 10,000,004,312.73 | 151,893,800.65 |
| 2017 | June 29, 2018 | Decisions on payment of dividends by the issuer were not made in this period | |||
| 2016 | May 18, 2017 | May 29, 2017 | 0.7788237 | 15,000,000,691.15 | |
| 2016, 6 months | September 2, 2016 | September 14, 2016 | 0.467 | 8,994,333,791.80 | 137,830,254.59 |
| 2016, 3 months | June 24, 2016 | July 5, 2016 | 0.0519216 | 1,000,000,431.28 | 15,546,980.33 |
| 2015 | June 30, 2015 | Decisions on payment of dividends by the issuer were not made in this period | |||
| 2014 | June 27, 2014 | July 13, 2015 | 0.2336 | 4,499,092,877.44 | 81,029,696.66 |
| 2013 | June 17, 2013 | July 9, 2014 | 0.023364 | 449,986,327.00 | 13,332,612.18 |
| 2012 | June 15, 2012 | April 28, 2013 | 0.02362 | 454,916,838.88 | 14,304,256.49 |
| 2011 | June 30, 2011 | April 25, 2012 | 0.0235 | 452,605,661.90 | 13,893,581.95 |
Dividends paid into Russian federal budget in reporting period
Dividends in the amount of 2,000,010,322.66 RUB, accrued based on the results of activities in the first half of 2018 and from retained earnings for 2017, were transferred to the Russian Federation in the person of the Federal State Property Management Agency in 2018 by payment order No. 32620 dated November 14, 2018.
Dividends accrued for the first nine months of 2018 by decision
of PJSC NCSP shareholders at an EGM on December 21, 2018 were transferred in 2019 with payment order No. 2191, dated February 13, 2019, in the amount of 1,020,004,648.24 RUB.