NOVATEK’s Board Recommends 1H 2021 Dividend
Moscow, 27 August 2021. The Board of Directors (the “Board”) of PAO NOVATEK (“NOVATEK” and/or the “Company”) discussed the Company’s financial and operational results for the First Half 2021 and decided to convene an Extraordinary General Meeting of Shareholders (“EGM”) on 30 September 2021 in the form of absentee voting, with the following agenda:
- On the payment of interim dividends for the First Half 2021.
The Board recommends the EGM to approve the proposed interim dividend payment for the First Half 2021 in the amount of RR 84,014,587,020, which corresponds to the payment of RR 27.67 per one ordinary share or RR 276.70 per one GDR. The proposed interim dividend represents an increase of 134.1% as compared to the interim dividend for the First Half 2020. The recommended interim dividend is consistent with the Company’s Dividend Policy of distributing not less than 50% of the consolidated net profit under IFRS adjusted for the items unrelated to the Company’s core business and non-cash items.
The list of persons entitled to take part in NOVATEK’s EGM will be compiled as of 7 September 2021. The Board recommended to compile the list of persons entitled to receive dividends as of 11 October 2021.
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.