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NOVATEK board of directors recommends 2018 dividend

March 21/ 09:22

Moscow.  PAO NOVATEK announced the results of its Board of Directors (the “Board”) meeting held today, whereby the Board recommended to the Annual General Meeting of Shareholders (“AGM”) to approve dividend payments on the Company’s shares in the amount of RR 16.81 per ordinary share (or RR 168.1 per GDR), excluding the interim dividends of RR 9.25 per ordinary share (or RR 92.5 per GDR) paid for the six months of 2018. 

The total dividend distribution for 2018 is RR 26.06 per ordinary share (or RR 260.6 per GDR), representing an increase of 74.3% as compared to RR 14.95 (or RR 149.5 per GDR) for 2017. The total recommended dividend payout amount for 2018 is RR 79,126,134,360, which is consistent with the Company’s dividend policy of distributing not less than 30% of the consolidated net profit under IFRS adjusted for the items unrelated to the Company’s core business and non-cash items.

The Company’s AGM will take place on the 23 April 2019. Shareholders at the close of business on the 30 March 2019 will be entitled to participate in the Company’s AGM. The recommended date for compiling the list of shareholders entitled to receive dividends is 6 May 2019.

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