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Shareholders of Lukoil approved the dividends for the nine months

October 19/2021

MOSCOW (MRC) - Lukoil's board of directors took a decision to convene an extraordinary general meeting of the company's shareholders in the form of absentee voting on December 2, 2021, the company said in a statement.

The Board of Directors recommended that the Extraordinary General Shareholders Meeting resolve to pay dividends based on the results of the first nine months of 2021 in the amount of 340 rubles per ordinary share, and proposed that the Meeting set December 21, 2021 as the record date for the persons entitled to receive dividends.

The dividends are recommended to be paid in cash no later than January 11, 2022 to nominee shareholders and the trust managers qualified as professional market participants who are recorded in the PJSC "LUKOIL" shareholder register, and no later than February 1, 2022 to other persons recorded in the PJSC "Lukoil" shareholder register.

Lukoil pays dividends twice a year. According to the company's dividend policy, the amount of dividend payments is not tied to net profit, but to free cash flow. The total payout is at least 100% of the company's adjusted free cash flow.

Lukoil paid dividends in the amount of Rb259  per share in 2020, including interim payments for 9 months in the amount of Rb46 per share and total dividends in the amount of Rb213 per share.

According to the ICIS-MRC Price Report, Stavrolen, a subsidiary of Lukoil, has begun a sequential shutdown to repair its high-density polyethylene (HDPE) production facilities. The turnaround will be quite long and will take about 36 days. The annual production capacity is 300,000 tonnes.

Lukoil is the second largest oil company in Russia (the leader is Rosneft). It accounts for 2% of world oil production and 1% of world proven reserves, according to the company's website.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, HDPE, neftegaz, petrochemistry, Lukoyl, Stavrolen.
Category:General News
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