The dividend policy is one of the most important components of corporate governance and a key indicator of the Company’s observance of the rights of its shareholders.
In 2013, the Board of Directors approved the payment of interim semi-annual dividends for the first time. The decision to pay interim dividends demonstrated the Company’s willingness to follow high corporate governance standards.
According to the decision of the Company’s annual General Meeting of Shareholders dated 6 June 2014, the amount of dividends accrued per one common share of OJSC Gazprom Neft totalled 9.38 RUB, taking into account dividends for the first half of 2013 in the amount of 4.09 RUB per share. The total amount of accrued dividends for 2013 was equal to 44,473,391,000 RUB.
|Ensuring the maximum transparency of the mechanisms used to determine the amount of dividends and the procedure for their payment||The Regulation on the Dividend Policy sets the minimum amount of annual dividends based on the Company’s shares — this amount must not be less than the greater of the following indicators:
|Compliance with current legislation of the Russian Federation, the Charter and the Company’s internal documents||Each shareholder recorded in the shareholder register as of the date determined by the general meeting of shareholders at which the decision is made to pay dividends shall have the right to receive dividends. This date cannot be set earlier than 10 days from the date on which the decision is adopted (announced) to pay dividends and 20 days from the date such a decision is made.|
|A desire to meet high corporate governance standards||The Company adheres to the principle of ensuring positive dividend payment dynamics in the event of growth in the Company’s net profit. The approved Regulation on the Dividend Policy of Gazprom Neft is posted on the Company’s official website, where the history of the Company’s dividend payments are also presented.|
|Amount of dividends accrued per one share, RUB||4.44||7.3||9.3||9.38 (including dividends for H1 2013)||4.62|
|Total dividends accrued per share of a particular category, RUB||21,051,370,397||34,611,487,364||44,094,086,642||44,473,390,613 (payable 25,081,475,091)||21,904,804,332|
|Percentage of IFRS net profit (prior to 2012 — US GAAP), %||22||20.6||24||25||—|
|Compilation date of list of persons entitled to receive dividends||25.04.2011||24.04.2012||23.04.2013||23.06.2014||17.10.2014|
|Meeting date of issuer’s governing body at which the decision was made to pay dividends and the date and number of the minutes.||09/06/2011, Minutes No. 0101/01 of 14/06/2011||08/06/2012, Minutes No. 0101/02 of 14/06/2012||07/06/2013, Minutes No. 0101/03 of 10/06/2013||06/06/2014, Minutes No. 0101/01 of 10/06/2014||30/09/2014, Minutes No. 0101/02 of 30/09/2014|
|Deadline given for payment of declared dividends||Before 08/08/2011||Before 07/08/2012||Before 06/08/2013||Before 28/07/2014||Before 25/11/2014|
|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||0.02||0.03||0.05||0.01|
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.