The dividend policy is central to corporate governance, forming the key indicator that the company is respecting shareholder rights.
PJSC Aeroflot has the Regulations on the Dividend Policy aimed at maximising the transparency of procedures used to determine the amount of dividends and the procedure of their payment to the shareholders and investors. The Regulations determine the approach used by the Board of Directors to make recommendations to the General Meeting of Shareholders on profit distribution, including dividend payout.
Under this policy, Aeroflot Group’s consolidated net income under the International Financial Reporting Standards (IFRS) forms the base for calculating dividends.
Decision on the dividend amount is based on a calculation methodology that takes into account Aeroflot Group’s performance in the reporting year, its leverage and the mid-term financial plan. Target payout ratio is 25% of Aeroflot Group’s IFRS net income.
On 28 June 2021, the Annual General Meeting of Shareholders resolved not to pay any dividend for the financial year 2020.
| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|---|---|
| Dividend per share, RUB | - | 17.4795 | 12.8053 | 2.6877 | - | - |
| Total dividends accrued, thousand RUB | - | 19,413,018 | 14,221,775 | 2,856,500 | - | - |
| % of net profit | - | 50.0 | 50.0 | 50.0 | - | - |
| Accounts used to determine net profit | IFRS | IFRS | RAS | IFRS | IFRS | IFRS |
| Form paid, other conditions | - | Cash | Cash | Cash | - | - |
