Credit ratings and dividends
April 24, 2017 “BB+” with a stable outlook
December 15, 2017 “BB” with a stable outlook
December 20, 2018 “BB” with a stable outlook
September 28, 2018 “ruAA-” with a positive outlook
The Company’s dividend policy aims to improve shareholder returns and ensure growth in the Company’s capitalization.
The Company views growth in capitalization as the main driver to meet its shareholders’ property interests in generating income from the Company’s shares. The dividend policy entails optimizing the proportions between the consumed and capitalized portions of the profit generated by the Company in order to increase the market value of its shares.
The Company’s dividend policy is based on the following core principles:
- the principle of transparency, which means identifying and disclosing information about the duties and responsibilities of the parties involved in carrying out the dividend policy, including the procedure and conditions for deciding on the payment and amount of dividends;
- the principle of timeliness, which means establishing time limits for dividend payments;
- the principle of justifiability, which means that the decision on the payment and the amount of dividends may only be made if the Company achieves a positive financial result taking into account development plans and its investment programs;
- the principle of fairness, which means providing shareholders with equal rights to receive information about the decisions made concerning the payment, amount, and procedure for paying dividends;
- the principle of consistency, which means the strict implementation of the procedures and principles of the dividend policy;
- the principle of development, which means continuous improvement in the dividend policy as part of enhancing corporate governance procedures and revising its provisions due to changes in the Company’s strategic goals;
- the principle of sustainability, which means the Company’s commitment to ensuring a stable level of dividend payments.
The Annual General Meeting of Shareholders on June 21, 2018 (minutes dated June 21, 2018) decided to pay dividends on the ordinary registered shares of PJSC “Magnit” based on the results of the 2017 reporting year.
The Extraordinary General Meeting of Shareholders on December 5, 2018 (minutes dated December 6, 2018) decided to pay dividends on the ordinary registered shares of PJSC “Magnit” based on the results of the first nine months of the 2018 reporting year.
|Period||Dividend per share (RUB)||Total dividends declared (RUB)||Dividend amount / IFRS net income, %|
|6 months 2017||115.51||10,922,782,116||53|
|9 months 2018||137.38||14,000,581,950||55|