Dividend Policy
The dividend policy of the Company is aimed at increasing the Company’s investment attractiveness and increasing its market capitalization. The policy is based on the balance of interests of the Company and its stockholders.
The dividend policy of the Company is determined by the Regulation on the dividend policy approved by the decision of the Board of Directors of the Company on February 2, 2018 in the new edition (Protocol No. 258/2018 of February 5, 2018) with amendments of July 31, 2018 (Protocol No. 281 2018).
Principles of the Company’s dividend policy
- Calculation of dividends on the use of profits without taking into account the impact of the revaluation of financial investments.
- Maintaining the required level of financial and technical condition of the Company.
- Compliance with the Company’s practice of calculating and paying dividends to the laws of the Russian Federation and the best standards of corporate behavior.
- The optimal combination of interests of the Company and stockholders.
- Increasing the investment attractiveness of the Company and its capitalization.
- Transparency (clarity) of the mechanism for determining the amount of dividends and their payment.
The dividend policy of the Company establishes the size of dividends at a level of at least 50% of net profit under IFRS. At the same time, a number of restrictions on the payment of interim dividends are allowed, including if the payment requires the attraction of debt financing, will lead to a deterioration in the solvency or non-performance of the investment program.
| Name of indicator | For 2015 | For 2016 | For 2017 |
|---|---|---|---|
| Retained earnings (loss) of the reporting period, including: | 149,575 | —1 011 268 | 511,438 |
| reserve fund | 7 479 | 0 | 25 572 |
| development profit | 0 | 0 | 108,607 |
| dividends | 142,096 | 0 | 377,259 |
| repayment of losses of past years | 0 | 0 | 0 |
| Indicator | 2016 (according to the results of 2015) | 2017 (according to the results of 2016) | 2018 (according to the results of 2017) |
|---|---|---|---|
| Date of decision | 06.06.2016 | Dividends are not accrued | 09.06.2018 |
| Date of listing | 24.06.2016 | 20.06.2018 | |
| Type of stocks | Ordinary stocks | Ordinary stocks | |
| Dividend per stock, rub. | 0.002852693 | 0,005 464 428 621 | |
| Accrued on stocks, rub. | 142 095 765,43 | 377 259 000,13 | |
| Dividend payout ratio declared in the net profit of the reporting year, % | 95.00 | 73.76 | |
| Paid, rub. | 140 439 094,88 | 373 715 192,21 | |
| Payout ratio, % | 98.83 | 99.06 | |
| Reasons for non-payment of declared dividends | Lack of correct requisite details of stockholders | Lack of correct requisite details of stockholdersThe company is working with stockholders to update their personal data and after receiving them provides for the re-payment of dividends within three years. |
In 2016, the Company paid 41% of the profit under IFRS at the end of 2015. According to the results of 2016, the Company did not declare dividends due to a loss of 1.3 billion rubles. In 2018, the total amount of dividends paid amounted to 374 million rubles at the end of 2017 (50% of the profit under IFRS).
In accordance with the Company’s Charter, the decision on the distribution of profits based on dividend payments for 2018 will be made at the AGMS. According to the dividend policy of the Company, potentially 50% of net profit under IFRS can be distributed as dividends.
Report on dividends received by PJSC "MRSK Yuga"1 013 660.61 rub. received as dividends on stocks owned by PJSC "MRSK Yuga".