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Annual Report 2015

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Dividend Policy

The PJSC IDGC of the North-West's approach to the net profit distribution takes due account of a balance between the interests of the Company and its shareholders, the improvement of the Company's investment potential and market capitalization, shareholders' rights stipulated by the legislation of the Russian Federation, the Company's Articles of Association and internal regulations.

Key principles of the Company's Dividend Policy:

  • dividends are calculated based on profit without the effect of investment revaluation;
  • need in maintaining a required level of the Company's financial and technical condition (fulfillment of the investment programme) and securing the Company's long-term development;
  • conformance of the dividend accrual and payout policy at the Company with Russian legislation and the best corporate conduct standards;
  • the best combination of the Company's and shareholders' interests;
  • need in improving the Company's investment potential and capitalization;
  • ensuring the transparency of a dividend calculation and payout structure;
  • dividends on ordinary shares are paid out only after payments on preference shares were fully paid as stipulated by the Company's Articles of Association (if the Company's preference shares are placed).

A recommended dividend amount is determined by the Board of Directors based on the Company's financial performance, and the Board of Directors will strive to secure positive dividends to its shareholders every year.

Net profit distribution at the Company, RUB k
Indicator 2011 2012 2013 2014
Net profit (loss) in the reporting period 407,651 61,831 300,338 –620,027
Net profit distribution
including:
Surplus fund 20,383 3,092 15,017 0
Profit allocated to development 387,268 43,279 208,692 0
Dividends 0 15,460 76,629 0
Redemption of previous years' loss 0 0 0 0
Dividend history
Indicator 2011 2012 2013 2014 Increment 2013 vs 2012, %
Dividend per ordinary share, RUB 0.0001614 0.0008 396
Total dividends, RUB, k. 15,460 76,629 396
Share of net profit allocated to dividend payout, % 25 25.5
Total dividend payout, RUB, k. 15,237 75,501
Dividend yield per share 0.41 2.9

The share of paid out dividends of all declared dividends was 98.56% for 2012 and 98.53% for 2013. Dividends were paid out to all persons included in the dividend list, except for those failing to provide true and complete details necessary for dividend payout.