Company dividend policy is based on a balance of interests between the Company and its shareholders, the goal of raising the investment appeal and capitalization of the Company, and respect and strict observance for shareholder rights, as laid down in Russian legislation, the Company charter and other internal documents.
In accordance with the regulations on LUKOIL Dividend Policy, passed in 2003, the Board of Directors bases its dividend recommendation to the AGM on the principle that dividend payments should be no less than 15% of net profit determined on the basis of the Company’s consolidated financial statements prepared in accordance with US GAAP.

The aims of LUKOIL dividend policy are: To make dividends one of the key indicators of the Company's investment appeal To increase dividends based on consistent growth of profit and/or growth of the share of dividend payments in net profit Year Share type Dividend per share, RUR1) Record date 2007 ordinary         42 8 May 2008 2006 ordinary         38 11 May 2007 2005 ordinary         33 11 May 2006 2004 ordinary         28 12 May 2005 2003 ordinary         24 7 May 2004 2002 ordinary         19,5 12 May 2003 2001 ordinary         15 8 May 2002 2000 ordinary         8   preferred         59,16 14 May 2001 1999 ordinary         3   preferred         17,45 24 April 2000 1998 ordinary         0,25   preferred         2,67 14 May 1999 1997 ordinary         0,22   preferred         0,91 20 April 1998 1996 ordinary         300   preferred         1000 7 April 1997 19952) ordinary         200   preferred         500 20 April 1996 19943) ordinary         500   preferred         500 20 April 1995 1) 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). 2) From 1995 as a result of a share split, dividends were paid per share with par value of RUR 25, with the par value being reduced to RUR 0.025 after redenomination of the Russian currency. 3) Dividends for 1994 were paid per share with par value of RUR 125 (non-redenominated).

Total Shareholders Return   Dividend per ordinary share, roubles   Dividends accrued on common stock, mln USD   Dividend yield, %%