Press Releases and Events
NOVATEK Board of Directors Recommends 2020 Dividend
Moscow, 19 March 2021. PAO NOVATEK (the “Company”) announced the results of its Board of Directors (the “Board”) meeting, 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 23.74 per ordinary share (or RR 237.4 per GDR), excluding the interim dividends of RR 11.82 per ordinary share (or RR 118.2 per GDR) paid for the six months of 2020.
The total dividend distribution for 2020 is RR 35.56 per ordinary share (or RR 355.6 per GDR), representing an increase of 10% as compared to RR 32.33 (or RR 323.3 per GDR) for 2019. The total recommended dividend payout amount for 2020 is RR 107,971,041,360, which is consistent with the Company’s new 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 Company’s AGM will take place on the 23 April 2021. Shareholders at the close of business on the 31 March 2021 will be entitled to participate in the Company’s AGM. The recommended date for compiling the list of shareholders entitled to receive dividends is 7 May 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.