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Dividends

A dividend is a part of the Company’s net profit distributable among shareholders pro rata to the number of shares of respective category (type) they hold.

The Company’s net profit is determined in accordance with its accounting (financial) statements prepared in accordance with the Russian Accounting Standards (RAS).

The purpose of Nizhnekamskneftekhim’s dividend policy is to balance the interests of the Company and its shareholders in determining the amount of dividends, improve its investment appeal, promote respect for and strict observance of shareholder rights.

The Company may decide on (declare) dividends on its outstanding shares based on the results of the first quarter, six and/or nine months of the year and/or the full year.

Resolution to pay (declare) dividends based on the results of the first quarter, six and/or nine months of the year may be adopted within three months after the end of the respective period.

Such resolution to pay (declare) dividends shall be adopted by the General Meeting of Shareholders and shall specify the amount of dividends per share category (type), form of payment, and dividend record date. The resolution on the dividend record date shall only be made upon the proposal of the Company’s Board of Directors.

The dividends to be paid shall amount to at least 15% of the Company’s net profit for the year.

The annual fixed dividend on the Company’s preference shares amounts to RUB 13,139,025. Preferred dividends unpaid in full or in part shall accrue and be paid on a later date when the Company earns sufficient profit for this purpose, but no later than in three subsequent years.


Taxation of dividends payable to individuals:

The personal income tax on dividends depends on the tax residency of the individual shareholder who receives such dividends:

  • 13% for Russian residents.
    Should the tax base for equity income exceed RUB 5 m during the respective period of taxation, the amount of such excess shall be taxable at 15%
  • 15% for non-Russian residents. Such rate applies unless other rates are stipulated in respective double taxation treaties with foreign countries (article 7 of the Russian Tax Code). Provisions of certain international treaties shall be applied in line with the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting ratified by Federal Law No. 79-FZ On Ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting dated 1 May 2019

Dividend history of Nizhnekamskneftekhim

Category (type) of sharesDividend periodAmount of dividend (RUB per share) Dividends accrued (RUB)Payout form% of net profit in the reporting period
ordinary/preference
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2018
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19.94
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36,494,980,615
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cash
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50
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ordinary/preference
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2019
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9.07
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16,600,274,532.50
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cash
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70
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ordinary/preference
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2020
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0.73
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1,336,075,017.50
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cash
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30
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ordinary/preference
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1H 2021
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9.538
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17,456,826,735.50
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cash
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70
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ordinary/preference
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2021
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10.282*
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18,818,525,109.50*
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cash
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45*
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* Including the dividend paid for Q1 2022.
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