Dividends
Dividends
The procedure for payment of dividends by Mechel PAO (further on referred to as the “Company”) is defined and prescribed by Federal Law on Joint Stock Companies (further on referred to as the “Law”) and by Article 13 of the Articles of Association of Mechel PAO, as well as by Regulations on Dividend Policy. The source for dividend payment is a certain part of the Company’s after-tax income (certain part of net profit of the Company).
The decision in respect of dividend payment (announcement), including the amount and form of dividend payment by shares of each category (type) is to be made by General Shareholders’ Meeting. Actual dividend amount may not exceed the amount recommended by the Company’s Board of Directors.
The defined amount of the annual fixed dividend to be paid per one privilleged share of the Company shall be 20 (twenty) percent of the Company’s net profit reflected in the annual consolidated financial statements generated in accordance with the International Financial Reporting Standards followed by the Company and audited by independent auditors in compliance with the applicable audit principles divided by 138,756,915 (one hundred thirty-eight million seven hundred fifty-six thousand nine hundred fifteen).
If for one and the same year the dividend to be paid per one common share exceeds the dividend to be paid per one privilleged share, the dividend to be paid per one privilleged share shall be increased to reach the amount of the dividend to be paid per one common share.
To view the history of dividend payments for the whole period click here.
The timeines for dividend payment to a nominal holder and to a trustee who is a professional securities market player, registered in the Shareholders Register of the Company shall not exceed 10 business days, аnd for other persons registered in the Shareholders Register of the Company it shall not exceed 25 business days starting from the date the list of such persons eligible for getting dividend payment is defined.
Dividend payment in monetary form to the natural persons whose rights for shares are registered in the Shareholders Register of the Company shall be effected by means of bank transfers to such persons’ bank accounts if their bank details are known to the Registrator of the Company, otherwise dividend payment shall be effected by way of postal money transfer; dividend payment in monetary form to other persons whose rights for shares are registered in the Shareholders Register of the Company shall be effected by means of bank transfers to such persons’ bank accounts.
The shareholders eligible for receiving dividends and whose rights for shares are registered with a nominal holder of the shares shall receive their dividend payments via the depository they belong to as deponents.
A shareholder of the Company who failed to receive the dividend due to the fact that the Company or the registrator do not have the presice or necessary address or bank details of such shareholder or due to another reason for the creditor’s inability to effect timely dividend payment shall be entitled to claim for payment of such dividend (unclaimed dividend) within three years starting from the date the decision on payment of such dividend was made.
To have the unclaimed dividend paid the persons eligible for receiving such payment shall submit their bank or other details necessary for the money transfer by means of sending respective application form enclosed to the following address: 125167, Russian Federation, Moscow, Krasnoarmeyskaya 1. The application form shall be marked as “For Dividend Payment”.
