Russia’s Novatek board approves regulations on dividend policy

The Board of Directors of Novatek at a meeting held on 25 April 2014 approved the Regulations on Dividend Policy of the Company.

According to the approved Regulations, the total dividend payment shall not be less than 30% of the consolidated net profit to the International Financial Reporting Standards (IFRS) for the respective period. The previously adopted Dividend Policy provided for dividend distribution of not less than 30% of non-consolidated net profit to the Russian Accounting Standards (RAS), however historically, dividend payments were not less than 30% of the IFRS net profit.

Source: Novatek Press Office, 2014