Annual report 2016

Dividends

For 2015, Moscow Exchange’s Annual General Meeting of Shareholders resolved to distribute RUB 16.2 bn of dividends (RUB 7.11 per ordinary share), which is equivalent to 58.2% of the 2015 IFRS consolidated net income.

In December 2015, the MOEX Supervisory Board approved a Dividend Policy requiring that the dividend distributions equal at least 55% of the Group’s IFRS net income.

On 27 March 2017, the Supervisory Board recommended that the Annual General Meeting of Shareholders approve the dividend payouts of RUB 7.68 per share for 2016. It is therefore recommended that RUB 17.5 bn, or 69.3% of the Group’s 2016 IFRS net income, be distributed in the form of dividends.

In 2013-2016, the dividends were paid out in accordance with the relevant dividend policies adopted by the Exchange in 2013 and 2015.

Annual dividend per ordinary share and recommended dividend amount for 2016, RUB

Dividend payments in 2012–2016
Paid in: 2012 2013 2014 2015 2016
Paid for: 2011 2012 2013 2014 2015
Announced on 20 June 2012 Minutes No. 44 of the AGM 25 June 2013 Minutes No. 49 of the AGM 26 June 2014 Minutes No. 52 of the AGM 28 April 2015 Minutes No. 53 of the AGM 29 April 2016 Minutes No. 54 of the AGM
Total pre-tax amount of dividends declared RUB 681,197,400 RUB 2,901,756,800 RUB 5,423,154,900 RUB 8,818,323,228 RUB 16,201,105,465
Payment period established by the AGM Within 60 days of the dividend resolution date Within 60 days of the dividend resolution date By 25 July 2014 for nominee holders; by 15 August 2014 for other registered holders By 25 May 2015 for nominee holders; by 16 June 2015 for other registered holders By 30 May 2016 for nominee holders; by 20 June 2016 for other registered holders
Actual payment date Registrar: 15 August 2012 Register: 20 August 2012 Registrar: 22 August 2013 Register: 26 August 2013 24 July 2014 for nominee holders; 7 August 2014 for other registered holders 25 May 2015 for nominee holders Register: 16 June 2015 By 27 May 2016 for nominee holders Register: by 20 June 2016
1 Dividend per share in 2016 as recommended by the MOEX Supervisory Board