NOVATEK BoD recommends payment of RR 16.81 per ordinary share as 2018 dividend
PAO NOVATEK has announced the results of its Board of Directors meeting, 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 16.81 per ordinary share, excluding the interim dividends of RR 9.25 per ordinary share paid for the six months of 2018.
The total dividend distribution for 2018 is RR 26.06 per ordinary share, representing an increase of 74.3% as compared to RR 14.95 for 2017. The total recommended dividend payout amount for 2018 is RR 79,126,134,360, which is consistent with the Company’s dividend policy of distributing not less than 30% of the consolidated net profit under IFRS adjusted for the items unrelated to the Company’s core business and non-cash items.
The Company’s AGM will take place on the 23 April 2019. Shareholders at the close of business on the 30 March 2019 will be entitled to participate in the Company’s AGM. The recommended date for compiling the list of shareholders entitled to receive dividends is 6 May 2019.
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project. 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 mainly 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 natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public 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”.
