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Dividends

Paying competitive dividends has historically been a priority for PJSC LUKOIL. In 1994 the Company was one of the first in Russia to adopt the practice of annual dividend payments and has been consistently increasing the amount of dividends per share over the past 20 years. Starting from 2012, LUKOIL began paying dividends twice a year: based on interim and full year results.

To achieve the maximum transparency and predictability of dividends, in 2016 the Board of Directors of PJSC LUKOIL approved the new Regulations on the Dividend Policy of the Company. The dividend policy of PJSC LUKOIL is based on a balance of interests of the Company and its shareholders, on strengthening the Company's investment case and increasing its capitalization, on a respect and strict compliance with the shareholder rights stipulated by the effective legislation of the Russian Federation, the Charter of the Company and its internal documents.

The policy is based on the following main principles:

The  below indicators demonstrate  the competitiveness of our  dividend policy. In spite of the deterioration of macro economic environment in 2014—2015, LUKOIL has increased the size of dividends per share for 2015 by 14.9%, the share of dividends in the net profit has increased to 27.9% of the adjusted net profit (43.3% of total net profit), the dividend yield was 6.9%.

*Calculated on the basis of average market price of one ordinary share at the Moscow Stock 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).  2011-2013 data is presented in accordance with the US GAAP financial statements and reflect the Ruble/US Dollar exchange rate as at the end of the reporting period.

*Free cash flow = operating cash flow less capital expenditures. Dividends are calculated net of dividends on quasi-treasury shares.

Dividends accrued inDividends based onDividend per share, RUR
Record date*

2018

the first nine months of 2017

85

22 Dec 2017

Total

85

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.


Dividends accrued in

Dividends based on

Dividend per share, RUR

Record date

2017*

the first nine months of 2016

7523 Dec 2016
2017**          for  201712010 July 2017
Total195

* 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 2017,

Dividend payments to other persons registered in the shareholder register of PJSC “LUKOIL” to be made not later than 02 Feb 2017.

**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 21 Jul 2017,

Dividend payments to other persons registered in the shareholder register of PJSC “LUKOIL” to be made not later than 11 Aug 2017.


Dividends accrued in

Dividends based on

Dividend per share, RUR***

Record date

2016*

the first nine months of 2015

65

24 Dec 2015

2016**

for 2015

112

12 July 2016

Total 177 


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 14 Jan 2016,

Dividend payments to other persons registered in the shareholder register of PJSC “LUKOIL” to be made not later than 04 Feb 2016.

** 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 25 Jul 2016,

Dividend payments to other persons registered in the shareholder register of PJSC “LUKOIL” to be made not later than 15 Aug 2016.

*** Up to 1996 inclusive dividends are given in non-redenominated roubles (The redenomination, at a rate of 1,000 old roubles to 1 new rouble, was intended to compensate for the effects of hyperinflation in the early 1990s).

  • Dividend payments for 1995—2015 reporting years