Dividend history

The Gazprom neft PJSC Regulation on the Dividend Policy is designed to ensure that the mechanism for determining the amount of dividends and the procedure for their payment is as transparent as possible for shareholders and all stakeholders and also describes the approach of the Company’s Board of Directors to preparing recommendations for the General Meeting of Shareholders on the amount of dividends to be paid on the Company’s shares, the date as of which shareholders must be registered to receive dividends and the procedure for their payment.

The amount of annual dividends paid out for the Company’s shares must not be less than the largest of the following indicators:

  • 15% of the Gazprom Neft Group’s consolidated financial result as determined in accordance with International Financial Reporting Standards (IFRS),
  • 25% of the Company’s net profit as determined in accordance with Russian Accounting Standards (RAS).

Gazprom Neft has paid interim semi-annual dividends since 2013 in an effort to enhance the Company’s investment appeal.

Core principles of the Gazprom Neft dividend policy
  • commitment to high corporate governance standards;
  • enhancing the Company’s investment appeal;
  • ensuring positive dividend payment dynamics in the event of growth in the Company’s net profit;
  • commitment to ensuring the most convenient method of receiving dividends for shareholders;
  • commitment to paying dividends as quickly as possible;
  • ensuring the maximum transparency of the mechanism used to determine the amount of dividends;
  • compliance with the standards of the existing laws of the Russian Federation as well as the Company’s Charter and internal documents.
The Gazprom Neft Regulation on the Dividend Policy is available at the Company’s official website along with dividend payment
Company dividend history
Period 2011 2012 2013 2014 H1 2015
Amount of dividends accrued per one share, RUB 7.3 9.3 9.38 (including dividends for H1 2013) 6.47 (including dividends for H1 2014) 5.92
Total dividends accrued per share of a particular category, RUB 34,611,487,364 44,094,086,642 44,473,390,613 30,676,208,664 28,068,493,862.88
Percentage of IFRS net profit (prior to 2012 — US GAAP) 20.6 24 25 25
Compilation date of list of persons entitled to receive dividends 24/04/2012 23/04/2013 23/06/2014 22/06/2015 16/10/2015
Meeting date of issuer’s governing body at which the decision was made to pay dividends and the date and number of the minutes 08/06/2012, Minutes No. 0101/02 dated 14/06/2012 07/06/2013, Minutes No. 0101/03 dated 10/06/2013 06/06/2014, Minutes No. 0101/01 dated 10/06/2014 05/06/2015, Minutes No. 0101/01 dated 09/06/2015 30/09/2015, Minutes No. 0101/02 dated 02/10/2015
Deadline given for payment of declared dividends before 07/08/2012 before 06/08/2013 before 28/07/2014 27/07/2015 23/11/2015
Form and other conditions of payment of declared dividends In cash form In cash form In cash form In cash form In cash form
Ratio of unpaid dividends to accrued dividends1, % 0.02 0.03 0.05 0.02 0.02

Source: ratings agency data
1 Dividends not paid to shareholders who failed to provide data for the calculation of dividends in accordance with clause 5 of Article 44 of Federal Law No. 208-FZ dated 26 December 1995 “On Joint-Stock Companies”. Dividends accrued for shares belonging to unidentified holders are paid once the rights of the shareholders to the securities have been established.