Shareholders of PJSC Russneft at the annual meeting approved the payment of dividends on preferred shares for 2019 at the level of last year in the amount of $ 0.61205 per share, the company said.
A total of $ 60 million (about 3.9 billion rubles) will be allocated to pay dividends to preferred shares.
The dividend register will close on 13 October.
Dividends for 2016-2018 were also paid in US dollars – $ 0.40803 per share, or about $ 40 million in total.
In accordance with the company's charter, “the obligation to pay dividends may be fulfilled by the company in US dollars by decision of the meeting of shareholders. payment of dividends by the company “.
According to the charter, holders of preferred shares have the right to receive dividends in the amount calculated according to a certain formula depending on the adjustment coefficient determined by the company's board of directors “taking into account the financial result of the reporting year.”
The net profit of RussNeft according to RAS at the end of 2019 increased by 27% – to 14.97 billion rubles. Thus, about 26% of the profit will be spent on dividends.
The company currently pays dividends only on preferred shares. Russneft planned to start paying dividends on ordinary shares within three years and increase the total amount of dividends to $ 100 million.
According to the latest data, the owners of the preferred shares of the company are the Bank of Russia Trust bank – 16.52% (19.23% in the authorized capital) and Business Finance LLC (owned by VTB Bank (MCX: VTBR)) – 8.48% (corresponds to the share in the authorized capital). Another 23.46% of the company's capital is controlled by trader Glencore (LON: GLEN), the Gutseriev family owns about 33% of the authorized capital, which it owns through Belyrian Holdings Limited (12.05%), OJSC IC Nadezhnost (4.95% ), CJSC Mlada (7.7%), Bradinar Holdings (12.05%) and JSC IQG Asset Management (4.11%). 20% of the company's ordinary shares (15% of the authorized capital).
The authorized capital of Russneft is currently 196.22 million rubles, it is divided into 294.12 million ordinary shares and 98.032 million preferred shares with a par value of 50 kopecks each.