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Pin to quick picksPjsc Tatneft Regulatory News (ATAD)

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Notice of EGM; Board Recommends Dividends

14 Aug 2018 10:09

RNS Number : 7487X
PJSC Tatneft
14 August 2018
 

14 August 2018

 

The Board of Directors of Tatneft recommended to pay 30.27 rubles per each share as the dividend for the first half of 2018

 

On 13 August 2018 the Board of Directors of PJSC Tatneft by absentee voting resolved to convene an extraordinary general meeting of shareholders with the agenda to approve the dividends based on the results of the first half of 2018 and the procedure for the payment thereof, and issued a recommendation to the shareholders to approved the dividends for the first six months of this year in the amount of 30 rubles and 27 kopecks per each preferred and ordinary share of the Company (3027% of the par value), which constitutes approximately 75% of net income under the Russian Accounting Standards for the reporting period.

 

The Board of Directors upon making its decisions relied on the dividend policy of the Company, which states that free cash flow generated after financing of the investment program, the fulfillment of obligations and satisfaction of other requirements can be distributed in the form of dividends. The total amount of dividends (70.4 billion rubles) recommended for the distribution by the Board of Directors corresponds to the free cash accumulated by the Company as of the end of the first half of this year.

 

PJSC Tatneft intends to return to the shareholders in the form of dividends free cash flow not used to finance its projects yielding an adequate return on investment and not required for the normal operation of the Company as often as would be justified to carry out the necessary corporate procedures and make the payments. In accordance with applicable law, the Charter and the dividend policy of the Company, the dividends can be paid based on the results of the year, first quarter, first half and nine months of the reporting year.

 

The extraordinary general meeting of shareholders will be held on 28 September 2018 by absentee voting. List of persons entitled to participate in the extraordinary general meeting of shareholders will be determined as of 3 September 2018, and the list of persons entitled to the dividends is proposed to be drawn up  based on the shareholding as of 12 October 2018.

 

This press release contains inside information.

 

Forward-looking statements and waiver of liability: This press release contains statements about future events and expectations that are forward-looking in nature. Any statement in this press release that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. PJSC Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. The amounts and percentages mentioned or referred to in this press release could be presented after rounding and, therefore, they might differ from the actual sums and results contained in the Company's reporting documents. PJSC Tatneft shall bear no responsibility to correct or reimburse any sums which might constitute the difference between the amounts mentioned in this press release and those in respective reporting documents, and all payments are made by PJSC Tatneft exclusively on the basis of decisions made by its authorised corporate bodies in the amounts and within the corporate proceedings set out in such decisions.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCLIFIATDISLIT
Date   Source Headline
29th Dec 202311:41 amRNSEGM Approves Dividends for 9m 2023
21st Nov 20233:18 pmRNSTatneft EGM to approve 9m 2023 dividend
29th Sep 20239:42 amRNSTatneft EGM approves 6m 2023 dividend
15th Aug 20233:21 pmRNSBoard of Directors 1H 2023 div and EGM decisions
30th Jun 20232:44 pmRNSPJSC Tatneft AGM Results
19th Jun 20238:33 amRNSNotice of AGM
27th Apr 202312:20 pmRNSAGM Notice and Dividend Recommendation
30th Mar 20232:15 pmRNSAcquisition of business from Nokian Tyres plc
20th Mar 20237:00 amRNSTatneft's Annual IFRS and Directors' Report
28th Dec 20227:00 amRNSResult of EGM
16th Nov 20227:24 amRNSBoard Recommends Dividends for 9m2022
28th Oct 20224:16 pmRNSTatneft to acquire Russian assets of Nokian Tyres
23rd Sep 202210:09 amRNSTatneft EGM Approves Dividends for 1H2022
30th Aug 20227:00 amRNSTatneft publishes IFRS results for 1H2022
16th Aug 20229:52 amRNSBoard convenes EGM and recommends dividends 1H2022
9th Aug 202211:42 amRNSNew Legal Regime for ADR Holders
24th Jun 20224:35 pmRNSResult of AGM
15th Jun 20223:29 pmRNSPayments to Governments Report 2021
31st May 20229:45 amRNSStatement regarding 1Q 2022 IFRS accounts
23rd May 20222:40 pmRNSBoard Recommends Dividends
17th May 202210:32 amRNSTatneft Obtained Permit to Continue ADR Program
16th May 20228:46 amRNSTatneft Sells Tire Business
29th Apr 20222:04 pmRNSBoard Reapproves Nominations to the Board
27th Apr 202212:28 pmRNSNotice to ADR Holders
25th Apr 20225:24 pmRNSBoard Approves AGM Agenda, Related Issues
19th Apr 202211:10 amRNSLaw Affecting ADR Program - Correction
19th Apr 20229:22 amRNSLaw Affecting ADR Program
1st Apr 20223:10 pmRNSDraft Law; Rating Withdrawal
15th Mar 20228:31 amRNSAnnual Financial Report
14th Mar 202210:06 amRNSStatement regarding Ratings
10th Mar 20223:18 pmRNSBoard Approves Nominations
2nd Mar 20224:41 pmRNSSecond Price Monitoring Extn
2nd Mar 20224:36 pmRNSPrice Monitoring Extension
1st Mar 20224:43 pmRNSSecond Price Monitoring Extn
1st Mar 20224:37 pmRNSPrice Monitoring Extension
28th Feb 20224:41 pmRNSSecond Price Monitoring Extn
28th Feb 20224:37 pmRNSPrice Monitoring Extension
30th Dec 20211:34 pmRNSResult of EGM - Dividends
20th Dec 20219:26 amRNSNew Committee of the Board
30th Nov 202112:35 pmRNSPresentation to Investors
29th Nov 20217:32 amRNS3rd Quarter Results
23rd Nov 20218:03 amRNSBoard Recommends 3Q Dividends
1st Oct 202110:05 amRNSDividend Declaration
27th Aug 20217:25 amRNSHalf-year Report
26th Aug 202110:19 amRNSBoard convenes EGM, recommends dividends
1st Jul 20217:00 amRNSFirst Board Meeting and Board Committees Election
30th Jun 20215:15 pmRNSPayments to Governments Report
25th Jun 20215:10 pmRNSResult of AGM
9th Jun 20212:37 pmRNSAcquisition of EkoPet
4th Jun 20217:30 amRNS1st Quarter Results

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