Dividends
In making recommendations on the dividend amount, the Board of Directors is guided by the following principles:
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Dividend payment will be not less than 100% of free cash flow if Net Debt to EBITDA ratio < 1
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Dividend payment will be not less than 50% of free cash flow if Net Debt to EBITDA ratio > 1
Report on the dividend policy on MMK shares
In 2021, by resolutions of the General Meetings of Shareholders, dividends were declared for FY2020, 1Q, 1H and 9M 2021
Reporting period | FY2020 | 1Q 2021 | 1H 2021 | 9M 2021 |
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Recommendations of MMK’s Board of Directors to MMK’s Annual General Meeting on the amount of dividend payments | On 29 January 2021, MMK’s Board of Directors recommended to approve a dividend of RUB 0,945 per share | On 20 april 2021, MMK’s Board of Directors recommended to approve a dividend of RUB 1,795 per share | On 21 July 2021, MMK’s Board of Directors recommended to approve a dividend of RUB 3,530 per share | On 25 October 2021, MMK’s Board of Directors recommended to approve a dividend of RUB 2.663 per share |
Result of the vote to approve the dividend | On 28 May 2021, the Annual General Meeting of MMK approved the dividend recommended by MMK’s Board of Directors | On 28 May 2021, the Annual General Meeting of MMK approved the dividend recommended by MMK’s Board of Directors | On 10 September 2021, the Extraordinary General Meeting of MMK approved the dividend recommended by MMK’s Board of Directors |
On 24 December 2021, the Extraordinary General Meeting of MMK approved the dividend recommended by MMK’s Board of Directors |
Payment of dividends to nominee holders and trustees | 1 July 2021 | 1 July 2021 | 11 October 2021 | 27 January 2022 |
Payment of dividends to other shareholders of record | 22 July 2021 | 22 July 2021 | 1 November 2021 | 17 February 2022 |
Year for which dividend was declared |
Dividend amount per share, RUB |
Dividends accrued, millions |
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2017 (for 1H, 9M and FY) | 2,786 | 31 132 ₽ / 521 $ |
2018 (for Q1, 1H, 9M and FY) | 5,902 | 65 951 ₽ / 1 007 $ |
2019 (for Q1, 1H, 9M and FY) | 5,335 | 59 615 ₽ / 911 $ |
2020 (for 1H, 9M and FY) |
3,943 | 44 060 ₽ / 593 $ |
2021 (for Q1, 1H and 9М) | 7,988 | 89 261 ₽ / 1,223 $ |