Regulations on Dividend Policy


In accordance with clause 6.2. of Article 6 of the Articles of Association of IDGC of Centre, PJSC shareholders owning ordinary shares of the Company have the right to receive dividends declared by the Company.

Regulations on Dividend Policy (pdf, 164Kb)

Appendix to the Regulations on Dividend Policy (pdf, 124Kb)

In accordance with clause 7 of the Articles of Association of IDGC of Centre:

  • The Company is entitled to resolve on (declare) share dividend payment on the results of the first quarter, half-year, nine months of the fiscal year and (or) of the whole fiscal year. The decision on dividend payment (declaration) on the results of the first quarter, half-year or nine months of the fiscal year may be made within three months after the corresponding period. The Company must pay the declared dividends of the shares of each category (type).
  • The decision on dividend payment (declaration) including the decision on dividend mode and ways of payment for shares of different categories (types) is made by a resolution of the general meeting of the Company’s shareholders. The Company’s Board of Directors is entitled to resolve on non-payment of common share dividends.
  • The Company does not have a right to resolve on (declare) share dividend payment and to pay the declared share dividends in cases stipulated by the legislation of the Russian Federation.
  • The source of dividend payment is the Company’s profit after taxation (net profit of the Company). Net profit of the Company is determined by the data of the Company’s accounting statements.
  • The term of payment of dividends by the Company to a nominal holder and being a professional participant of the securities trustee, who are registered in the register of shareholders, shall not exceed 10 working days, and other persons registered in the registry of shareholders - 25 working days from the date on which the persons entitled to receive dividends are recorded. The date, on which, in accordance with the decision on payment (declaration) of dividends, persons entitled to receive them are recorded, cannot be earlier than 10 days from the date of the decision on payment (declaration) of dividends, and later than 20 days from the date of the decision. Dividends are paid to persons who are holders of shares of the relevant category (type) or those having in accordance with federal laws the rights of these shares at the end of the trading day on the date, on which, in accordance with the decision on payment of dividends persons entitled to receive them, are recorded. Payment of dividends is made in cash is paid by the Company by bank transfer or on its behalf by the Registrar maintaining the register of shareholders of the Company or a credit institution. Payment of dividends in cash to individuals, whose rights to shares are recorded in the register of shareholders of the Company, is made by postal order or with the appropriate application of these persons by transferring money to their bank accounts, and to other persons, whose rights to shares are recorded in the register of shareholders of the Company, by transferring money to their bank accounts. The obligation of the Company to pay dividends to such persons is considered to be executed from the date of receiving the transferred monetary funds by the federal postal service, or from the date of receipt of funds by a credit institution, which opened a bank account of the person entitled to receive such dividend. Persons, who are entitled to receive dividends and the right on whose shares is registered with a nominee holder of shares, receive dividends in cash in accordance with the legislation of the Russian Federation on securities. A nominee, who has been transferred the dividends to and who has not fulfilled the obligation to transfer them, set by the legislation of the Russian Federation on securities, for reasons beyond his control, is obliged to return them to the Company within 10 days after the expiration of one month from the date of expiry of the payment of dividends.

     
  • A person, who has not received the declared dividend due to the fact that the Company or the registrar has no accurate and appropriate address data or bank details, or due to a delay by the creditor, may apply with a claim to pay dividends (unclaimed dividends) within three years from the date of the decision on their payment. The time limit for making a claim for payment of unclaimed dividends when missed cannot be restored, except if the person having the right to receive dividends has not submitted this claim under the influence of violence or threats. After such a period declared and unclaimed dividends are restored in retained earnings of the Company and the obligation to pay them is terminated.

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