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.

Dividend history
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.