OAO NOVATEK announced the results of its Board of Directors meeting held on March 10, whereby the Board recommended to the Annual General Meeting of Shareholders to approve dividend payments on the Company’s shares in the amount of RR 6.9 per ordinary share (or RR 69 per GDR), excluding the interim dividends of RR 6.6 per ordinary share (or RR 66 per GDR) paid for the six months of 2015.
The total dividend distribution for 2015 is RR 13.5 per ordinary share (or RR 135 per GDR), representing an increase of 31% as compared to RR 10.3 (or RR 103 per GDR) for 2014.
The Company’s AGM will take place on the 22 April 2016. Shareholders at the close of business on the 21 March 2016 will be entitled to participate in the Company’s AGM. The recommended date for compiling the list of shareholders entitled to receive dividends is 4 May 2016.
OAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s gas production and approximately 16% of the world’s gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation.