DIVIDEND POLICY
The Company’s dividend policy is determined by the Regulations on Dividend PolicyApproved by a resolution of the Company’s Board of Directors on 2 February 2018 in a new version (Minutes No. 258/2018 dated 5 February 2018), as amended on 31 July 2018 (Minutes No. 281/2018 dated 3 August 2018)..
The dividend policy of the Company sets the amount of dividends at the level of not less than 50% of net profit under IFRS, and in addition there is a number of restrictions on the payment of interim dividends, including if the payment requires borrowing, if the payment leads to a deterioration in creditworthiness or if failure to fulfil the investment programme.
Indicator | For 2020 (Annual General Meeting of Shareholders in 2021) | For 2021 (Annual General Meeting of Shareholders in 2022) | For 2022 (Annual General Meeting of Shareholders in 2023) |
|---|---|---|---|
Undistributed profit (loss) of the reporting period, including: | (209,442) | 2,068,388 | (559,272) |
| 0 | 103,420 | 0 |
| 0 | 1,964,968 | 0 |
Dividends | 0 | 0 | 0 |
Recovery of losses of prior periods | 0 | 0 | 0 |
Year of payout | Date of decision | Record date | Share type | Dividends per share, RUB | Payable on shares, RUB | The share of declared dividends in the net profit in the reporting period, % |
|---|---|---|---|---|---|---|
2019 (as of year-end 2018) | 31.05.2019 | 19.06.2019 | Ordinary shares | 0.0068417020378 | 561,286,784.67 | 50.04 |
2020 (as of year-end 2019) | No dividends were accrued | |||||
2021 (as of year-end 2020) | No dividends were accrued | |||||
2022 (as of year-end 2021) | No dividends were accrued | |||||
2023 (as of year-end 2022) | No dividends were accrued | |||||
Year of payout | Share type | Paid out, RUB | Causes of non-distribution of declared dividends | % of payout |
|---|---|---|---|---|
2019 (as of year-end 2018) | Ordinary shares | 557,308,540.98 | Wrong bank details of shareholders | 99.29 |
2020 (as of year-end 2019) | No dividends were accrued and paid out | |||
2021 (as of year-end 2020) | No dividends were accrued and paid out | |||
2022 (as of year-end 2021) | No dividends were accrued and paid out | |||
2023 (as of year-end 2022) | No dividends were accrued and paid out | |||
According to the Company’s Articles of Associations, the Company will decide on the distribution of profits following the payout of dividends for 2023 at the Annual General Meeting of Shareholders.
Minutes of the Annual General Meetings of Shareholders are available at the Company’s website:
https://rosseti-yug.ru/korporativnoe-upravlenie/resheniya-obshchego-sobraniya-aktsionerov/