Securities Market and Joint-Stock Capital of the Company > Dividend Policy

Distribution of Net Profit of the Company

JSC IDGC of the North-West's policy of distribution of net profit is based on the balance of the interests of the company and its shareholders, on the increase of the company's attractiveness and capitalization, strict compliance with shareholders' rights pursuant to the applicable legislation of the Russian Federation, Company's Articles of Association and internal documents.

Distribution of net profit of the Company based on results of 2010-2011 and distribution of net profit for 2012, suggested by the Board of Directors to the General Shareholders' Meeting is given below in the report.

Distribution of net profit of the Company in 2010-2012, thousand RUB

  2010 2011 2012
Undistributed profit (loss) of the reporting period: -807,102 407,651 61,831
To be distributed to: reserve fund 0 20,383 3,092
profit for development 0 387,268 43,279
Dividends 0 0 15,460
Repayment of loss of previous years 0 0 0

Based on the results of the 2010 financial year, due to the fact that the Company gained profit in the amount of RUB 807,102 thousand, Company's net profit was not disbursed.

A positive financial result obtained in 2011 in the amount of RUB 407,651 thousand was, by resolution of the Company's Annual General Meeting of Shareholders distributed as follows: RUB 20,383 thousand were paid to the reserve fund and RUB 387,268 thousand were distributed for the Company's development.

Based on the results of the 2012 reporting year the Company gained net profit in the amount of RUB 61,831 thousand. Taking into account that estimated net profit from technological connection with the target purpose being investment activity based on the results of 2012 was RUB 1,046,150 thousand, the suggestion as to the distribution of net profit includes:

  • making all necessary payments to the reserve fund in the amount of RU3,092 thousand (5 % of 2012 net profit);
  • payment of dividends in the amount of 15,460 thou. rubles (0,0001614 rubles per ordinary share)
  • the remaining amount of net profit of RUB 58,739 thousand to be distributed for production development.
thousand RUB

distribution of net profit of the company in 2012