LUKOIL shareholders approved the payment of dividends for 2021 and interim dividends for 9 months From IFX

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In May, the board of directors decided to postpone the payment of the final dividend for 2021 due to unstable operating conditions and restrictions in accounting and banking systems. The shareholders supported this decision at the annual meeting.

Meanwhile, at the end of November, in connection with the stable financial position of LUKOIL and the elimination of a significant part of the restrictions on the payment of dividends, the board of directors of the Oil Company recommended that the meeting of shareholders pay dividends for 2021 from last year's retained earnings.

A few days after that, the board of directors also recommended interim dividends, but the company had to retreat from the dividend policy in order to maintain financial stability. In accordance with the regulation on the dividend policy, the company allocates at least 100% of adjusted free cash flow for dividend payments. At the same time, NC's dividend policy is based on the premise of free access to capital markets in order to refinance debt in a timely manner and finance transactions for the acquisition of assets using borrowed funds. “However, in 2022, due to the termination of access to international capital markets, the company directed a significant amount of its own funds to early repayment of debt, repurchase of Eurobonds and financing of asset acquisition transactions. Therefore, in order to maintain a stable financial position of the company, these factors were taken into account when determining the recommended amount interim dividend for 2022,” LUKOIL explained.

The date on which the persons entitled to receive dividends are determined is December 21, 2022.

Based on the results of nine months 2021, LUKOIL's interim dividends amounted to 340 rubles per share. Dividends for 2020 amounted to 213 rubles per joint stock company.

The authorized capital of NK consists of 692 million 865 thousand 762 ordinary shares.

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