NOVATEK Board of Directors recommends 2016 dividend

Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
+7 (495) 730-6013


Yury Melihov, Press-secretary
+7 (495) 721-2207

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14 March 2017

Moscow, 14 March 2017.  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 7.0 per ordinary share (or RR 70 per GDR), excluding the interim dividends of RR 6.9 per ordinary share (or RR 69 per GDR) paid for the six months of 2016. 

The total dividend distribution for 2016 is RR 13.9 per ordinary share (or RR 139 per GDR), representing an increase of 3% as compared to RR 13.5 (or RR 135 per GDR) for 2015. The total recommended amount of 2016 dividend payout is RR 42,204,653,400, which is consistent with the Company’s 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 21 April 2017. Shareholders at the close of business on the 27 March 2017 will be entitled to participate in the Company’s AGM. The recommended date for compiling the list of shareholders entitled to receive dividends is 2 May 2017.

PAO NOVATEK is one of the largest independent natural gas producers 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 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 16% 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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