Profit Distribution and Dividend Policy
The dividend policy of Kubanenergo PJSC is a total of principles and methods used by the Company to work out the correlation between the profit that goes towards capitalization and the profit that goes towards the dividends, as well as to decide on the procedure and timing of paying out the dividends, and to decide on the responsibility of the Company for failing to deliver the stated amount in dividends.
Our dividend policy is aimed at increasing the investment appeal of Kubanenergo PJSC and the growth of its market capitalization.
While increasing the capitalization, we also aim at increasing the amounts paid out as dividends to the shareholders based on the amount of profit attained in the financial year and investment requirements in relation to the development of the Company.
The Dividend Policy of the Company is determined by the Regulation on Dividend Policy of Kubanenergo PJSC established by the decision of the Board of Directors (Minutes No. 95/2010 of 9/3/2010) and published on the corporate website of the Company www.kubanenergo.ru — section About the Company / Constituent and in-house documents.
Basic Principles of Kubanenergo PJSC Dividend Policy |
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Data sheet on dividends paid by Kubanenergo PJSC
| Dividend Period, Year | Number and date of the Minutes of the annual General Meeting of Shareholders of Kubanenergo PJSC where the decision on the dividends payment was made |
Date of drafting the list of shareholders entitled to receive dividends in the dividend period |
Amount of dividends announced (accrued) on the shares of the given tier (type) per share, RUB |
Total amount of dividends announced (accrued) on the total number of outstanding shares of the given tier (type), RUB |
Total amount of funds paid in dividends on the company’s shares of the given tier (type), RUB |
Period of time set to pay out the announced dividends on the Company’s shares |
Means and other terms of payment of the announced dividends on the Company’s shares |
Reasons for default on the announced dividend payments |
2005 |
No. 18 of 6/11/2006 |
4/12/2006 |
4.476917 |
80,000,000 |
79,662,676.97 |
60 days |
Monetary means |
Failure to provide updates on the changes in personal data by the persons registered in the list of shareholders |
2006 |
No. 20 of 6/5/2007 |
4/26/2007 |
1.253593 |
22,401,000 |
22,303,192.20 |
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2007 |
No. 23 of 6/6/2008 |
4/17/2008 |
1.678844 |
30,000,000 |
29,873,068.07 |
15 days |
||
2015 |
No. 37 of 6/27/2016 |
7/13/2016 |
4.047105 |
1,144,797,000 |
1,144,067,054.17 |
10 working days and 25 working days * |
Following the results of 2008–2014 financial years, the General Meeting of Shareholders of the Company decided not to pay dividends.
Following the results of 2015 financial year, the decision was made to pay dividends in the amount of RUB 4.047105 per one ordinary share of the Company in cash.
According to the Company’s Articles of Association, the decision on profit distribution following the results of 2016 will be taken following the results of the annual General Meeting of Shareholders.
* 10 working days for a nominee holder and a trustee who is a professional participant of the securities market shall be no more than, and 25 working days for other registered shareholders from the date of drawing up the list of persons entitled to receive dividends.