The dividend policy of the Company is based on a balance of the interests of the Company and its shareholders, on increasing the investment appeal of the Company and its capitalization, on respect and strict compliance with the shareholder rights stipulated by effective legislation of the Russian Federation, the Charter of the Company and its internal documents.
In accordance with the Regulations on LUKOIL
, passed in 2003, and amendments and addenda adopted in 2014, the Board of Directors bases its dividend
recommendation to the AGM on the principle that dividend payments should be no
less than 15% of the net profits determined on the basis of the consolidated financial statements of OAO “LUKOIL” prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP) or International Financial Reporting Standards (IFRS) and re-calculated in roubles at the RF Central Bank exchange rate as at the end of the reporting period.
The aims of LUKOIL dividend
- To make dividends one of the key indicators of the Company's
- To increase dividends based on consistent growth of profit
and/or growth of the share of dividend payments in net profit
|Dividend per share, roubles
||Dividend yield, %
||Payout ratio, %|
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
3) Dividends for 1994 were paid per share with par value of RUR 125