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NOVATEK’s shareholders approve interim dividends
03 October 2016
Moscow, 3 October 2016. The Extraordinary General Meeting of Shareholders (“EGM”) of OAO NOVATEK resolved to pay dividends for the first half 2016.
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.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG 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. Upstream activities of the Company’s subsidiaries and joint ventures 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».
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