All news

Novatek to spend $1.4 bln on 2023 dividends — company

For the first half of 2023, the company has already paid interim dividends in the amount of 34.5 rubles per ordinary share

MOSCOW, February 9. /TASS/. Novatek can spend 133.8 billion rubles ($1.4 bln) on dividends for 2023, the company said in a financial statement on Friday.

According to the statement, the company’s Board of Directors recommended that shareholders approve dividends for 2023 in the amount of 44.09 rubles per share (excluding interim dividends for the first half of 2023).

For the first half of 2023, the company has already paid interim dividends in the amount of 34.5 rubles per ordinary share. The total volume of payments amounted to 104.7 billion rubles ($1.1 bln). That means that in 2023 alone, the company’s spending on dividends will total 238.5 billion rubles ($2.6 bln).

The annual meeting of shareholders will take place on March 15, 2024. The list of persons entitled to participate in the meeting will be compiled on February 21, 2024.

In 2022, the company’s dividends, taking into account interim ones, amounted to 105.58 rubles per share. The total amount of dividends was 319.9 billion rubles ($3.5 bln).

Novatek is Russia's largest independent natural gas producer. The company conducts exploration, production, and processing of gas and liquid hydrocarbons. The largest shareholders of Novatek (according to the latest public data) are Leonid Mikhelson (24.76%) and Gennady Timchenko (23.49%). The French company Total owns 19.4% in Novatek, while Gazprom holds 9.99%.