LUKOIL : BOARD OF DIRECTORS RECOMMENDS INTERIM DIVIDEND FOR 2022

LUKOIL BOARD OF DIRECTORS RECOMMENDS INTERIM DIVIDEND FOR 2022

Wednesday, November 2, 2022

<_a103a_updated style="display: none"> { 11/2/2022 1:32:43 PM }

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.

• Press release in PDF

Contact information

Press Centre PJSC "LUKOIL"

[e-mail]

[phone]

http://www.lukoil.com

https://www.facebook.com/Lukoil.en

http://twitter.com/lukoilengl

You may be interested

16/05/2022 -LUKOIL BOARD OF DIRECTORS RESOLVES ON ANNUAL GENERAL SHAREHOLDERS MEETING

At today's meeting the Board of Directors of PJSC "LUKOIL" resolved that the Annual General Shareholders Meeting of PJSC "LUKOIL" would be held on June 21, 2022 in the form of absentee voting, and the repeat Annual General Shareholders Meeting would be held on June 23, 2022. ​

05/05/2022 -ON DEPOSITARY RECEIPT FACILITIES OF PJSC LUKOIL

PJSC «LUKOIL» announces that the recently enacted Russian Federation law (Federal Law No. 114-FZ of April 16, 2022), prohibits circulation outside of Russia of depositary receipts representing shares of Russian issuers, effective April 27, 2022.​ ADR holders may convert their ADRs into ordinary shares of PJSC «LUKOIL» by December 30, 2022.

02/03/2022 -LUKOIL RELEASES FINANCIAL RESULTS UNDER IFRS FOR 2021

PJSC LUKOIL today released its audited consolidated financial statements for 2021 prepared in accordance with the International Financial Reporting Standards (IFRS).​

• Add to favorites

Find similar