Dividends

Dividend Policy (pdf, 37 Kb)

Dividend history

Period Record Date Amount of Dividend
per Ordinary Share (RUR)
Dividend Payments
before tax (mln RUR)
% of Net Income
2018 May 14, 2019 7.70 17528.29 89%
2017 May 15, 2018 5.47 12451.92 89%1
1H 2017 September 29, 2017 2.49 5668.24 -
2016 May 16, 2017 7.68 17482.76 69%
2015 May 16, 2016 7.11 16201.11 58%
2014 May 12, 2015 3.87 8818.32 55%
2013 July 11, 2014 2.38 5423.15 47%
2012 May 20, 2013 1.22 2901.76 35%
2011 May 21, 2012 0.31 681.20 10%

1 The payout ratio calculation includes the interim dividend paid during the year out of this year’s net income

Dividend rights

Shares of Moscow Exchange have been trading on Moscow Exchange (ticker: MOEX) since 4 February 2013. All shareholders have equal rights, including the right to a share of net profit in the form of dividends.

Determination of dividend amount

Dividends are paid out of Moscow Exchange’s consolidated net profit under IFRS.

Dividend payout decision

For publicly traded shares, a dividend payout decision is made at the AGM based on the Supervisory Board's recommendation.

Dividend policy

The Federal Law on Joint Stock Companies stipulates that the dividend record date is determined at the AGM and may not be set sooner than 10 or later than 20 days after the date when the dividend payout decision is made.

Dividend payments to nominee shareholders and trust managers must be completed within 10 working days after the dividend record date. Dividend payments to other persons and entities in the shareholder register must be completed within 25 working days after the dividend record date.

Dividend payments are cashless and made by the company itself, its shareholder registrar, or a bank.

Dividend payments to individuals in the shareholder register are made via the postal service or (upon request) bank transfer. Other shareholders receive the funds by bank transfer. The obligation to pay dividends is considered to have been discharged on the date payment is received for transfer by the federal postal service or bank with which the recipient has an account.

Entities entitled to receive dividends and which hold shares via a nominee holder receive dividends as per Russian securities legislation. A nominee holder which has received dividends and has not transferred them as obliged by law through no fault of the nominee holder's own is obliged to return the funds to the exchange within one month and 10 days after the end of the dividend payment period.

Entities entitled to dividends

Dividends are paid to persons and entities which are shareholders or have legal rights relating to the shares as of the end of the working day on the dividend record date.