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 2024, by resolutions of the General Meetings of Shareholders, dividends were declared for FY2023
| Reporting period | FY2020 | 1Q 2021 | 1H 2021 | 9M 2021 | FY2023 |
|---|---|---|---|---|---|
| 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 | On 26 April 2024, MMK’s Board of Directors recommended to approve a dividend of RUB 2.752 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 |
On 30 May 2024, the Annual 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 | 25 June 2024 |
| Payment of dividends to other shareholders of record | 22 July 2021 | 22 July 2021 | 1 November 2021 | 17 February 2022 | 16 July 2024 |
|
Year for which dividend was declared |
Dividend amount per share, RUB |
Dividends accrued, millions |
|---|---|---|
| 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 $ |
| 2022 FY | 0 | 0 |
| 2023 FY | 2,752 |
30 752 ₽ / 345 $ |