Allocation of profit
Company’s dividend policy focuses on enhancement of Company’s investment prospects and market value, balancing between interests of the Company and its stockholders. Pursuant to the Edict the Board of Directors has enacted new Regulations on the Dividend Policy.
Fundamentals of the Company’s Dividend Policy
- Compliance of the Company’s dividend accrual and payout practices with laws of Russia and corporate governance standards (Edict);
- Optimum compromise between the interests of the Company and its stockholders;
- Specification of a dividend size at a minimum of 50% of net income, presented in financial statements (incl. consolidated statements, prepared under IFRS), calculated as stated by the Regulations;
- Provision of possibility to pay quarterly dividends, provided that corresponding criteria are complied with;
- Enforcement of utmost transparency (comprehensibility) of a tool for dividend size calculation and payout;
- Enforcement of dividend upward trend, provided that Company’s net income keeps growing;
- Availability of information on the Company’s dividend policy for stockholders and stakeholders;
- Maintenance of required financial and technical condition of the Company (execution of investment program), enforcement of Company’s development prospects.
FY2014-2017 allocation of profit*
|FY2014 (GM held in 2015) ||FY2015 (GM held in 2016) ||FY2016 (GM held in 2017) |
|Non-distributed profit (loss) of the reported period, incl.:||2,006,783||2,466,036||3,305,554|
|Recovery of losses of previous periods||0||0||0|
Pursuant to the Company’s charter, allocation of FY2017 profit will be decided upon by the Annual General Meeting of Stockholders.
Unfortunately, persons, included into the list of persons entitled to collect dividends, collected no dividends since they had not provided the registrar with relevant information on details required for dividend transfers.