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NOVATEK Board of Directors Recommends 2018 Dividend
Moscow, 19 March 2019. PAO NOVATEK (the “Company”) announced the results of its Board of Directors (the “Board”) meeting held today, whereby the Board recommended to the Annual General Meeting of Shareholders (“AGM”) to approve dividend payments on the Company’s shares in the amount of RR 16.81 per ordinary share (or RR 168.1 per GDR), excluding the interim dividends of RR 9.25 per ordinary share (or RR 92.5 per GDR) paid for the six months of 2018.
The total dividend distribution for 2018 is RR 26.06 per ordinary share (or RR 260.6 per GDR), representing an increase of 74.3% as compared to RR 14.95 (or RR 149.5 per GDR) 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 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 Area, 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.