Dividend policy

The Group’s dividend policy strikes a balance between investing in business expansion and delivering returns to shareholders:

  • Focusing on maximising shareholder value, the policy boosts pay-outs during low investment cycles and limits them in periods when sizeable acquisitions meeting Globaltrans’ strict return criteria are identified;
  • Clear formula linking dividends to Attributable Free Cash Flow and Leverage Ratio provides flexibility and transparency in capital allocation.

Leverage Ratio

Dividends, % of Attributable Free Cash Flow

Less than 1.0х

Not less than 50%

From 1.0х to 2.0х

Not less than 30%

2.0х or higher

0% or more

To view the dividend policy, please click here.

Dividend history

Dividends declared

Type

Dividend amount
(US cents per share/GDR)[1]

Dividend amount
(RUB per share/GDR)

2 Sep 2019

Total & Special interim
- Interim
- Special interim

69.74
29.74
40.00

46.55
19.85
26.70

22 April 2019

Total & Special final
- Final
- Special final

72.58
12.49
60.09

46.50
8.00
38.50

28 Aug 2018

Total & Special interim
- Interim
- Special interim

66.98
30.79
36.19

45.90
21.10
24.80

23 April 2018

Total & Special final
- Final
- Special final

73.14
37.91
35.22

44.85
23.25
21.60

29 Aug 2017

Total & Special interim
- Interim
- Special interim

75.75
34.09
41.66

44.80
20.16
24.64

24 April 2017

Final

69.71

39.20

28 April 2016[2]

Final

19.04

12.41

28 April 2015[3]

-

-

-

28 April 2014

Final

62.00

22.28[4]

19 April 2013

Final

70.00

22.20[4]

4 May 2012

Final

64.00

18.86[4]

13 May 2011

Final

37.00

10.34[4]

3 May 2010

Final

15.18

4.42[4]


Dividend chart,
(RUB per share/GDR[1], in respect of related financial year/period)


[1] Since 2016 dividends on Globaltrans shares/Global Depositary Receipts (GDRs) have been declared in Russian roubles and paid in US dollars. Rounding adjustments have been made in calculating the dividend amounts presented in US dollars.
[2] The dividend declared on 28 April 2016 relates to both the 2014 and 2015 financial years.
[3] A dividend was not paid in 2015 in respect of the financial year ended 31 December 2014, a decision approved at the annual general meeting of shareholders on 27 April 2015. However, in April 2016 a decision was made to pay a dividend in respect of both 2014 and 2015 financial years in 2016.
[4] Prior to 2016 dividends on Globaltrans shares/GDRs were declared and paid in US dollars, thus the amounts in Russian roubles are presented for informational purposes only and calculated at the Central Bank of Russia’s official exchange rate for the Russian rouble as of the date of the Annual General Meeting that approved the respective dividend.
[5] Including regular and special dividends.

Last updated: 29.01.2020