NOVATEKâ€™s AGM Approves 2021 DividendsSource: RNS
FOR IMMEDIATE RELEASE
NOVATEK's AGM Approves 2021 Dividends
Moscow, 21 April 2022. PAO NOVATEK ("NOVATEK" and/or the "Company") announced that the Annual General Meeting of Shareholders ("AGM") approved the total dividend payment for 2021.
The total dividend distribution for 2021 is RR 71.44 per ordinary share, representing an increase of 100.9% as compared to RR 35.56 for 2020. The total recommended dividend payout amount for 2021 is RR 216,913,700,640, which is consistent with the Company's Dividend Policy of distributing not less than 50% of the consolidated net profit under IFRS adjusted for the items unrelated to the Company's core business and non-cash items.
The shareholders of record as at 5 May 2022 will be entitled to receive dividends.
The dividend is payable in cash not later than 14 June 2022.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company's subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.