The Company’s Regulations on the Dividend Policy approved by the Board of Directors seek to ensure the transparency of the mechanism for determining the amount of dividend and the dividend payment procedure.
Upon the Board’s recommendations, the General Meeting of Shareholders determines the dividend amount and record date, which, as per Russian laws, is to be set within 10–20 days of the relevant decision made by the General Meeting of Shareholders.
Dividends to a nominee holder are paid directly within 10 business days, while dividends to persons listed on the shareholder register are paid through the Registrar within 25 business days after the dividend record date. The procedure for paying unpaid dividends to shareholders is established by law.
Dividend payment dates
Meeting record date is the date on which shareholders need to hold shares in the Company to be entitled to participate in the meeting.
Dividend record date is the date on which shareholders need to hold shares in the Company to be entitled to receive dividend on such shares.
Ex‑dividend date is the date on which shares are traded without granting the right to receive the next dividend. Stocks are traded on the Moscow Exchange on a T+1 basis, that is, shares purchased by investors are not delivered to them until one business day has elapsed after the purchase.
In 2025, the Company paid dividends declared but unclaimed by shareholders and ADR holders in 2022 and 2023, subject to then applicable regulatory restrictions, to:
shareholders who were customers of foreign nominee holders and ADR holders – dividends were paid directly to security holders; the payment was made if information to identify the security holder and other information required to make the payment was available
certain categories of shareholders – dividends were paid to type “C” accounts opened with Russian credit institutions.
Dividend history
The Company pays dividends out of net profit, including retained earnings from prior years.
On 25 May 2026, the Company’s Board of Directors recommended that the Meeting of Shareholders not pay a final dividend for 2025. The resolution on this matter will be passed at the Annual General Meeting of Shareholders on 30 June 2026.
Dividends paid as at 31 December 2025The amounts of dividends paid are presented net of dividends returned.
For the reporting periods
Date of the Meeting of Shareholders at which the dividend resolution was passed
Total dividends (USDmln)
Total dividends (RUB)
Ratios of paid dividends to total declared dividends, %
9M 2023
07.12.2023
1,466
129,180,900,509
92.4
2021
03.06.2022
2,642
147,885,760,478
83.0Dividends were paid to all persons included in the List of Registered Persons Entitled to Receive Dividends, except for those who provided incorrect bank details for the transfer of dividends, as well as in cases where unpaid dividends were returned by nominee holders, including pursuant to the restrictions established by Executive Order of the Russian President No. 95 dated 5 March 2022.
9M 2021
27.12.2021
3,050
232,689,385,244
99.9
2020
19.05.2021
2,197
161,505,831,745
99.9
9M 2020
10.12.2020
1,338
98,584,439,786
99.9
Dividends declaredEarlier dividend history is available at the Company website.
For the reporting periods
9M 2020
2020
9M 2021
2021
9M 2023
For the reporting periods
9M 2020
2020
9M 2021
2021
9M 2023
Date of the Meeting of Shareholders at which the dividend resolution was passed