The Extraordinary General Meeting of Shareholders (“EGM”) of OAO NOVATEK resolved to pay dividends for the first half 2016, NOVATEK says in a press release.
The recommended interim dividend for the first half 2016 amounts to RR 6.9 per one ordinary share or RR 69.0 per one GDR which is 4.5% higher as compared to the interim dividend for the first half 2015. The EGM approved the interim dividend payment for the first half 2016 in the amount of RR 21.0 billion, which is 30% of the consolidated net profit under IFRS adjusted for the items unrelated to the Company’s core business and non-cash items.
The shareholders of record as at 11 October 2016 will be entitled to receive dividends.
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. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».