7.7

Dividend Record

JSC Tyumenenergo Dividend Policy, approved by the Company`s Board of Directors, is based on respect for and strict observance of the rights of shareholders stipulated by the current legislation of the Russian Federation, the Articles of Association, and the Company`s internal documents, and is aimed at enhancing the Company`s investment attractiveness and growth of market capitalization of the Group of Companies JSC ROSSETI.

The Company`s Dividend Policy is based on the following principles:

  • Calculation of dividends based on use of profit without accounting for the effect of revaluation of financial investments;
  • The need to maintain the required level of financial and technical state of the Company (implementation of the investment program), ensuring prospects of the Company`s development;
  • Compliance of the Company`s practice of dividend calculation and pay-out with the legislation of the Russian Federation and the best standards of corporate behaviour;
  • An optimum combination of interests of the Company and its shareholders;
  • The need to enhance investment attractiveness of the Company and its capitalization;
  • Ensuring transparency of the mechanism for determining the amount of dividends and pay out thereof.

The Company`s Dividend Policy is governed by the Regulations for Dividend Policy approved by the Resolution of the Board of Directors dated 27 August 2010. (Minutes No. 10/10).

In the third (3) quarter of 2014, based on the results for 2013, the Company paid dividends on the ordinary shares for thous. RUB (1.87 RUB per one ordinary share of the Company).

Distribution of Profit for Dividend Payout in 2011–2014*

For dividend pay-out Dividends per one (1) ordinary share, RUB
thous. RUB % of Net Profit
for 2010 (2011 AGSM) 441 830 8,01 % 1,6140560135
for 2011 (2012 AGSM) 369 548 10, 37 % 1,3500015202
for 2012 (2013 AGSM) 31 735 25 % 0,1159316198
for 2013 (2014 AGSM) 512 357 25 % 1,8716992892
2013 / 2012 1515 % - 1 515 %

*Information on allocation of profit in accordance with the resolutions of the Annual General Shareholders Meetings (AGSM).

  • 2011 AGSM (for 2010) — AGSM Minutes No. 96pr/12 dated 28 June 2011
  • 2012 AGSM (for 2011) — AGSM Minutes No. 153pr/12 dated 30 June 2012
  • 2013 AGSM (for 2012) — AGSM Minutes No. 187 pr/14 dated 28 June 2013
  • 2014 AGSM (for 2013) — AGSM Minutes No. 242pr/14 dated 30 June 2014

In accordance with the Company`s Articles of Association, the resolution on distribution of profit according to the results of 2014 will be adopted subject to the resolution of the Annual General Shareholders Meeting (AGSM). Following the results of 2014, it is planned to allocate 667, 321 thous. RUB for dividend pay-out.

Dividend Payout Dynamics, thous. RUB

Dividend Payout Dynamics

Change in the share of the net profit annually allocated for dividend pay-out is shown on the graph.

Net Profit Share Allocated for Dividend Payout

Net Profit Share Allocated for Dividend Payout