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Dividends




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 Dividend Policy, 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 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

 
   
Dividend per share, roubles   Dividend yield, %   Payout ratio, %
                   
 

Dividends accrued in

Dividends paid on results for the period

Share type

Dividend per share, RUR1)

Record date

Dividend payment period

From

To

2014

01 July 2013

31 Dec 2013

ordinary

60

15 July 2014

Dividend payments to nominee shareholders and trust managers who are professional market participants registered in the shareholder register of OAO LUKOIL to be made within 10 business days after the date on which persons entitled to receive dividends are determined,

-   Dividend payments to other persons registered in the shareholder register of OAO LUKOIL to be made within 25 business days after the date on which persons entitled to receive dividends are determined.

 
2013 01 Jan 2013 30 June 2013 ordinary 50 15 August 2013 Not exceeding 60 days from the date the payment decision is taken
Total 01.01.2013 31.12.2013   110    
2013 01 Oct 2012 31 Dec 2012 ordinary 50 12 May  2013 Not exceeding 60 days from the date the payment decision is taken
 
2012 01 Jan 2012 30 Sep 2012 ordinary 40 12 November  2012 Not exceeding 60 days from the date the payment decision is taken
Total 01.01.2012 31.12.2012   90    
2012 01 Jan 2011 31 Dec 2011 ordinary 75 11 May 2012 Not exceeding 60 days from the date the payment decision is taken
2011 01 Jan 2010 31 Dec 2010 ordinary 59 6 May 2011 Not exceeding 60 days from the date the payment decision is taken
2010 01 Jan 2009 31 Dec 2009 ordinary 52 7 May 2010 From July to December 2010
2009 01 Jan 2008 31 Dec 2008 ordinary 50 8 May 2009 From July to December 2009
2008 01 Jan 2007 31 Dec 2007 ordinary 42 8 May 2008 From July to December 2008
2007 01 Jan 2006 31 Dec 2006 ordinary 38 11 May 2007 From July to December 2007
2006 01 Jan 2005 31 Dec 2005 ordinary 33 11 May 2006 From July to December 2006
2005 01 Jan 2004 31 Dec 2004 ordinary 28 12 May 2005 From July to December 2005
2004 01 Jan 2003 31 Dec 2003 ordinary 24 7 May 2004 From July to December 2004
2003 01 Jan 2002 31 Dec 2002 ordinary 19,5 12 May 2003 From July to December 2003
2002 01 Jan 2001 31 Dec 2001 ordinary 15 8 May 2002 From July to December 2002
2001 01 Jan 2000 31 Dec 2000 ordinary 8    
preferred 59,16 14 May 2001 From July to December 2001
2000 01 Jan 1999 31 Dec 1999 ordinary 3    
preferred 17,45 24 April 2000 From July to December 2000
1999 01 Jan 1998 31 Dec 1998 ordinary 0,25    
preferred 2,67 14 May 1999 From July to December 1999
1998 01 Jan 1997 31 Dec 1997 ordinary 0,22    
preferred 0,91 20 April 1998 From July to December 1998
1997 01 Jan 1996 31 Dec 1996 ordinary 300    
preferred 1000 7 April 1997 From July to December 1997
1996 01 Jan 19952) 31 Dec 19952) ordinary 200   From July 1st to September 30th 1996
preferred 500 20 April 1996
1995 01 Jan 19943) 31 Dec 19943) ordinary 500    
preferred 500 20 April 1995 From April 24th 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).


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