At today's meeting the Board of Directors of PJSC "LUKOIL"
(hereinafter, the Company) reviewed the matter on dividends
recommendation for PJSC "LUKOIL" shares based on the
results of the first nine months of 2022.
According to the Regulations on the Dividend
Policy, the Company distributes at least 100% of its adjusted free
cash flow on dividends. The dividend policy of the Company is based
on the assumption of free access to capital markets for timely
refinancing of debt and financing of M&A deals with borrowed
funds.
However, in 2022, due to disrupted access to
international capital markets, the Company directed a significant
amount of own funds to early repayment of debt, repurchase of
Eurobonds and financing of M&A deals. Therefore, in order to
maintain stable financial position of the Company, these factors were
taken into account when determining the recommended amount of the
interim dividends for 2022.
As a result, the Board of Directors recommended
that the Extraordinary General Shareholders Meeting scheduled for
December 5, 2022 resolves to pay dividends based on the results of
the first nine months of 2022 in the amount of 256 rubles per
ordinary share.
The dividend record date is proposed as of
December 21, 2022.
Information about company
LUKOIL
is one of the largest oil & gas vertical integrated companies in
the world accounting for over 2% of crude production and circa 1% of
proved hydrocarbon reserves globally. LUKOIL enjoys a full
production cycle to control the entire value chain from upstream to
downstream. LUKOIL employs over 110 thousand people who join their
efforts and talents to secure the Company’s market leadership.
Contact information
Press Centre PJSC "LUKOIL"
media@lukoil.com
+7 (495) 627-16-77
https://www.lukoil.com
https://www.facebook.com/Lukoil.en
https://twitter.com/lukoilengl
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