Dividend Policy of Gasdrogen was confirmed by resolution of the Sole Shareholder on 03.07.2013 (minutes of the meeting of the management Board of Gasdrogen #75).
Dividend Policy of the Company is based upon observance of balance of interests of the Company and its shareholders, and on necessity to enhance capitalization and investment attractiveness of the Company.
Dividend policy stipulates the sum on dividends payment at the level not lower than 40% of Company’s net income. The factual size of dividends shall achieve or exceed 100% of net income of the Company, if this does not contradict to Company’s liabilities.
The Management Board reserves the right to offer the level of dividend payments lower than 40%, based on the actual results of the Company for the financial year, an industry-wide dynamics of development and the program of capital (investment) costs of the Company.
The Board of Directors of the Company during preparation of proposals on distribution of net income of the Company upon quarterly or semi-annual resultsassumes that the amount available for dividend payment is not less than 10% of the net profit of the Company for the relevant financial period. In the case of payment of quarterly or semi-annual dividends, the amount of actual interim payments is taken into account in the payment of dividends for therelevant financial period.