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  • Gazprom Neft Board of Directors recommends 2020 dividend payments at ₽15 per share

Gazprom Neft Board of Directors recommends 2020 dividend payments at ₽15 per share

Press-release Efficiency
  • The Gazprom Neft Annual General Meeting of Shareholders will take place by absentee ballot on 11 June 2021.
  • The Board of Directors recommends a dividend for 2020 of ₽71.1 billion.

The Gazprom Neft Board of Directors has reviewed preparations for its Annual General Meeting of Shareholders (AGM). As approved by the Board of Directors, the AGM will take place in absentia on 11 June 2021. Information on those individuals and entities entitled to attend the Annual General Meeting of Shareholders in Gazprom Neft will be confirmed by close of business on 18 May 2021.

The Board of Directors has approved the provisional distribution of profits arising from the company’s activities in 2020, recommending that the Annual General Meeting of Shareholders endorse its recommendation to pay dividends for 2020 in the amount of ₽15 per ordinary share (taking dividends of ₽5 per ordinary share, already paid on the basis of the company’s interim results for the first nine months of 2020, into account). The total accrued dividend recommended by the Board of Directors is ₽71.1 billion. This is consistent with the company’s policy of paying dividends of at least 50% of net profit (IFRS). The company’s 2020 net profit was ₽117.7 billion (IFRS).

The company is expected to confirm those individuals entitled to receive dividends by 25 June 2021.