Press Releases and Events
NOVATEK Board of Directors recommends 1H 2014 dividend
Moscow, 1 September 2014. OAO NOVATEK (“NOVATEK” or the “Company”) announced the results of its Board of Directors (“the Board”) meeting. The Board discussed the Company’s results for the first half 2014 and decided to convene an Extraordinary General Meeting of Shareholders (“EGM”) in the form of absentee voting on 14 October 2014 to approve the interim dividends for the first half 2014. The list of persons entitled to participate in the Company’s EGM will be compiled as of 11 September 2014.
The Board recommended to the EGM to approve an interim dividend payment for the first half 2014 in the amount of RR 15,485,160,600, which is RR 5.10 per one ordinary share or RR 51.0 per one GDR. This recommendation represents a 50.0% increase in the dividend payment as compared to the interim dividend for the first half 2013. The Board recommended to compile the list of persons entitled to receive dividends as of 27 October 2014.
The Board of Directors also approved the Anti-corruption Policy and the Regulations on the Risk Management and Internal Control System of OAO NOVATEK. The documents are available on the Company’s website at www.novatek.ru.
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.