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Dividends

In 2012, Acron approved its new Dividend Policy Provisions. The goal of the revised Dividend Policy is to establish a transparent and easy to understand tool for calculating and paying shareholders’ dividends. The new Policy also outlines the strategy the Board of Directors shall pursue when developing recommendations about the amount of dividends and the conditions and procedures for their payment.

The Company’s Dividend Policy is based on the following guiding principles: a balance of interests between the Company and its shareholders in determining the amount of dividend payment; improvement of the Company’s attractiveness to investors and its capitalisation; and respect for and strict observance of shareholders’ rights under Russian law, the Company Charter and its internal regulations.

Pursuant to the Dividend Policy Provisions approved by the Board of Directors, the amount of dividends shall be no less than 30% of the Company’s IFRS net profit. The Company will pay dividends at least twice each fiscal year.

History of Acron’s Dividend Payments

GSM type and date Reporting period BoD recommendation date Record date Dividends per ordinary share (Rub) Declared dividends (RUB '000)
AGM
29 May 2020
2019 07 May 2020 09 June 2020 376 (incl. intermediate dividends) 15,240,784
EGM
03 April 2020
Not applicable*  12 March 2020 14 April 2020 157 6,363,838
EGM
29 November 2019
M9 2019 6 November 2019 11 December 2019 101 4,093,934
AGM
30 May 2019
 2018  7 May 2019 11 June 2019 135 5,472,090
EGM
1 March 2019
Not applicable* 15 February 2019 22 March 2019 130 5,269,420
EGM
19 October 2018
Not applicable* 27 September 2018 30 October 2018 40 1,621,360
AGM
31 May 2018
2017 8 May 2018 14 June 2018 185 7,498,790
EGM
2 January 2018
Not applicable*
21 December 2017 23 January 2018 112 4,539,808
EGM
8 September 2017
Not applicable* 17 August 2017 26 September 2017 235 9,525,490
AGM 22 June 2017 2016 23 May 2017 11 July 2017 250 (incl. intermediate dividends) 10,133,500
EGM
9 September 2016
H1 2016 18 August 2016 20 September 2016 155 6,282,770
AGM
26 May 2016
2015 25 April 2016 14 June 2016 180 7,296,120
AGM
21 May 2015
2014** 20 April 2015 2 June 2015 139 5,634,226
AGM
29 May 2014
2013*** 28 April 2014 9 June 2014 152 6,161,168
AGM
30 May 2013
2012 26 April 2013 11 April 2013 110 (incl. intermediate dividends) 4,456,152
EGM
19 December 2012
M9 2012 8 November 2012 12 November 2012 46 1,861,976
AGM
28 June 2012
2011 Acron annual general meeting on 28 June 2012 resolved not to pay (declare) dividends from 2011 profit.
EGM
24 November 2011
M9 2011 3 November 2011 1 September 2011 129 6,151,700
AGM
26 May 2011
2010 25 April 2011 8 April 2011 40 1,875,234
AGM
27 May 2010
2009 26 April 2010 09 April 2010 25 1,192,190
* Dividends were paid out from retained earnings of previous years
 
** On 21 May 2015, Acron annual general meeting resolved not to pay dividends on Acron ordinary shares from 2014 profit. It was resolved to pay (declare) dividends from Acron’s retained earnings for previous years.

*** On 29 May 2014, Acron annual general meeting resolved not to pay dividends on Acron ordinary shares from 2013 profit. It was resolved to pay (declare) dividends from Acron’s retained earnings for previous years.