PJSC LukOil New principles of dividend policy (0925Q)
October 16 2019 - 6:32AM
UK Regulatory
TIDMLKOD
RNS Number : 0925Q
PJSC LukOil
16 October 2019
LUKOIL BOARD OF DIRECTORS APPROVES NEW PRINCIPLES OF THE
DIVIDEND POLICY
At today's meeting of the Board of Directors of PJSC "LUKOIL"
(hereinafter, the Company) the new principles of the Company's
dividend policy were approved as follows:
1. The total amount of dividends on the Company's issued shares,
excluding the shares held by LUKOIL Group entities, equals at least
100% of the Company's adjusted free cash flow;
2. The adjusted free cash flow is calculated on the basis of
PJSC "LUKOIL" consolidated financial statements prepared in
accordance with International Financial Reporting Standards (IFRS)
and is determined as net cash provided by operating activities less
capital expenditures, interest paid, repayment of lease
obligations, and expenses for purchase of Company's stock;
3. Dividend per share is rounded to the nearest Russian rouble;
4. Dividends are paid twice a year with the amount of interim
dividends calculated based on the consolidated financial statements
for the six-month period.
In accordance with the decision of the Board of Directors, the
approved principles apply starting from the interim dividends for
2019. Based on the new principles, a revised version of the
Regulations on the Dividend Policy of PJSC "LUKOIL" will be drafted
and submitted for approval of the Board of Directors by the end of
2019.
"The new principles of the dividend policy are an important
result of our work on continuous improvement of corporate
governance practices and the Company's financial policy. They will
contribute to the most efficient delivery on the Company's
long-term strategy," President of PJSC "LUKOIL" Vagit Alekperov
highlighted.
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
STRLLFLIITLRLIA
(END) Dow Jones Newswires
October 16, 2019 06:32 ET (10:32 GMT)
Pjsc Lukoil (LSE:LKOH)
Historical Stock Chart
From May 2024 to May 2024
Pjsc Lukoil (LSE:LKOH)
Historical Stock Chart
From May 2023 to May 2024