I'm interested in

The page will reload with new widgets as you request.

Dividends

Paying competitive dividends has historically been a priority for LUKOIL. Over the past 20 years the Company has been consistently increasing the amount of dividends per share.

On October 16, 2019 the Board of Directors of PJSC "LUKOIL"  approved the new principles of the Company's dividend policy.

•  The total amount of dividends on the Company's issued shares, excluding the shares held by LUKOIL Group entities, equals at least 100% of the Company's adjusted free cash flow.

• The adjusted free cash flow is calculated on the basis of PJSC "LUKOIL" consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and is determined as net cash provided by operating activities less capital expenditures, interest paid, repayment of lease obligations, and expenses for purchase of Company's stock.

•  Dividend per share is rounded to the nearest Russian rouble.

• Dividends are paid twice a year with the amount of interim dividends calculated based on the consolidated financial statements for the six-month period.

In accordance with the decision of the Board of Directors, the approved principles apply starting from the interim dividends for 2019.

Based on the new principles, a revised version of the Regulations on the Dividend Policy of PJSC "LUKOIL" will be drafted and submitted for approval of the Board of Directors by the end of 2019.

  • Regulations on the Dividend Policy of PJSC “LUKOIL”

*Provided that such decision is approved by the upcoming Extraordinary General Shareholders meeting 3 Dec 2019.

*Calculated on the basis of average market price of one ordinary share at the Moscow Exchange and dividend per share for the respective period. 

*Calculated on the basis of the number of outstanding shares  (excluding own shares held by legal entities controlled by the Company).  

*Free cash flow = operating cash flow less capital expenditures. Dividends=dividends paid in the calendar year net of dividends on quasi-treasury shares.

Dividends accrued in

Dividends based on

Dividend per share, RUR

Total dividends announced, RUR

Record date

2020*

the first nine months of 2019

192137,280,000,000 20 Dec 2019
Total192

*Provided that such decision is approved by the upcoming Extraordinary General Shareholders meeting 3 Dec 2019.

 Dividend payments to nominee shareholders and trust managers who are professional market participants registered in the shareholder register of PJSC “LUKOIL” to be made not later than 10 Jan 2020,

Dividend payments to other persons registered in the shareholder register of PJSC “LUKOIL” to be made not later than 31 Jan 2020.

Dividends accrued in

Dividends

based on

Dividends per share, RURTotal dividends announced, RURRecord date
2019*the first nine months of 20189571,250,000,00021 Dec 2018
2019**for 2018155116,250,000,000

09 July 2019

Total250

*Dividend payments to nominee shareholders and trust managers who are professional market participants registered in the shareholder register of PJSC "LUKOIL" to be made not later than 11 Jan 2019,

Dividend payments to other persons registered in the shareholder register of PJSC "LUKOIL" to be made not later than 01 Feb 2019.

**Dividend payments to nominee shareholders and trust managers who are professional market participants registered in the shareholder register of PJSC "LUKOIL" to be made not later than 19 July 2019,

Dividend payments to other persons registered in the shareholder register of PJSC "LUKOIL" to be made not later than 09 Aug 2019.

Dividends accrued inDividends based onDividend per share, RUR
Total dividends announced, RURRecord date

2018*

the first nine months of 2017

85

72,297,876,675

22 Dec 2017

2018**for  2017130110,573,223,150 11 Jul 2018

Total

215

*Dividend payments to nominee shareholders and trust managers who are professional market participants registered in the shareholder register of PJSC “LUKOIL” to be made not later than 12 Jan 2018.

Dividend payments to other persons registered in the shareholder register of PJSC “LUKOIL” to be made not later than 02 Feb 2018.

** Dividend payments to nominee shareholders and trust managers who are professional market participants registered in the shareholder register of PJSC “LUKOIL” to be made not later than 23 Jul 2018,

Dividend payments to other persons registered in the shareholder register of PJSC “LUKOIL” to be made not later than 13 Aug 2018.

  • History of Dividend Payments for 1995—2018 reporting years

• Different tax rates are applied to the dividends being distributed. If dividends are distributed based on DR ownership, the applied income tax rate depends on whether consolidated information has been disclosed to the tax agent as prescribed by the Russian Tax Code. In order to comply with the above requirements, international custodian banks, brokers or other agents (hereinafter referred to as the Intermediary Agents), acting on behalf of the beneficial holders registered as of the date of making the list of persons entitled to dividends (register closure date for dividend distribution), shall submit the relevant information to the Depositary bank, including the number of depositary receipts, country of tax residence, rate set forth in the relevant double taxation agreement, and information as to whether such beneficial holders are entities or individuals.

• The above information shall be prepared by the Intermediary Agents based on the documents that are available to them (including tax residence certificates) and shall be submitted to the Depositary Bank. The information submitted by the Intermediary Agents is consolidated by Citibank, acting as the Depositary Bank for PJSC LUKOIL DR programs to be then forwarded to the tax agent (Sberbank of Russia).

• For further information concerning DR dividend payments please see the contacts below or visit CITIBANK N.A. website:

480 Washington Boulevard, 30th Floor, Jersey City, NJ 07310

Email: drdividends@citi.com

PRESS RELEASES