2018-06-10 09:49:34

Press release: Gazprom Neft shareholders confirm record dividend payment of RUB15 per share for FY2017

Shareholders of Gazprom Neft (the ‘Company’) have approved the Company’s 2017 Annual Report and Accounts at the Annual General Meeting of Shareholders (“AGM”), that took place in St Petersburg on 9 June 2018.

The shareholders have also endorsed the recommendation made by the Board of Directors to pay dividends in the amount of RUB72.12 billion, which represents 28.1 percent of the Company’s 2017 consolidated net profit under IFRS. In 2017, net profit grew 26.5 percent year-on-year to RUB253.3 billion.

The dividend will amount to RUB15 per ordinary share, including a dividend of RUB10 per ordinary share paid based on the results of the first nine months of 2017. This is a record dividend payment for the Company, and is 40 percent higher than the previous record of RUB10.68 per ordinary share set in 2016.

Alexander Dyukov, Chairman of the Gazprom Neft Management Board, commented: “Gazprom Neft’s record dividend yield is underpinned by the Company’s strong financial results. In 2017, Gazprom Neft achieved the highest net profit in its history, with adjusted EBITDA up by more than 20 percent. Our improved financial performance was supported by our operational progress. The Company is successfully implementing major new upstream projects, modernising its refining assets and developing a unified digital business management platform based on cutting-edge technology.

Gazprom Neft’s success in improving its operational efficiency and implementing innovative projects has been recognised by the market. Our share price demonstrated consistent growth last year, reflecting investors’ interest in the Company.”

Gazprom Neft shareholders also approved the new composition of the Company’s Board of Directors, including the appointments of Andrey Dmitriev, First Deputy Head of Department, Gazprom PJSC, and Igor Fedorov, Member of the Management Committee and Head of Department, Gazprom PJSC.

The new composition of the Board of Directors is as follows:

Alexei Miller, Chairman of the Management Committee, Deputy Chairman of the Board of Directors, Gazprom PJSC;
Valery Golubev, Deputy Chairman of the Management Committee, Gazprom PJSC;
Andrey Dmitriev, First Deputy Head of Department, Gazprom PJSC;
Alexander Dyukov, Chief Executive Officer, Chairman of the Management Board, Gazprom Neft PJSC;
Andrey Kruglov, Deputy Chairman of the Management Committee, Gazprom PJSC;
Yelena Mikhailova, Member of the Management Committee, Head of Department, Gazprom PJSC;
Kirill Seleznev, Member of the Management Committee, Head of Department, Gazprom PJSC;
Mikhail Sereda, Member of the Board of Directors, Deputy Chairman of the Management Committee, and Head of Administration of the Management Committee, Gazprom PJSC;
Valery Serdyukov, Independent Director;
Igor Fyodorov, Member of the Management Committee, Head of Department, Gazprom PJSC;
Sergey Fursenko, President, FC Zenit;
Vsevolod Cherepanov, Member of the Management Committee, Head of Department, Gazprom PJSC.