Press Releases and Events
NOVATEK’s Board of Directors Recommend 1H 2017 Dividend
Moscow, 25 August 2017. The Board of Directors (the “Board”) of PAO NOVATEK (“NOVATEK” and/or the “Company”) discussed the Company’s results for the first half 2017 and decided to convene an Extraordinary General Meeting of Shareholders (“EGM”) on 29 September 2017 in the form of absentee voting, with the following agenda:
On the payment of dividends for the first half 2017.
The Board recommended to the EGM to approve an interim dividend payment for the first half 2017 in the amount of RR 21,102,326,700, which amounts to RR 6.95 per one ordinary share or RR 69.50 per one GDR. The recommended interim dividend for the first half 2017 is 0.7% higher as compared to the interim dividend for the first half 2016.
The list of persons entitled to take part in NOVATEK’s EGM will be compiled as of 6 September 2017. The Board recommended to compile the list of persons entitled to receive dividends as of 10 October 2017.
Due to expiration of powers of the members of the Management Board, the Board of Directors re-elected the Management Board of the Company as before. The Board of Directors also amended NOVATEK’s Information Policy, which was aligned with the actual recommendations of the Bank of Russia.
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.