2014 Annual report
RU

Dividend Policy

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

The Company’s net profit distribution based on results of 2010-2013 and net profit distribution for 2014 proposed by the Board of Directors to the Annual General Shareholders’ Meeting are given below.

Company’s profit distribution
Indicator, RUB thous. 2010 2011 2012 2013 2014
Net profit based on annual performance –807,102 407,651 61,831 300,338 –620,027
Net profit distribution, total, incl.: 0 0
Payment of dividends 0 15,460 76,629 0
Reserve fund increase 0 20,383 3,092 15,017 0
Investment financing 0 0
Profit for development 0 387,268 43,279 208,692 0

Based on the results of the 2014 financial year, the Company suffered losses of RUB 620 million. Therefore, the Company’s net profit will not be distributed.

Dividend History
Indicator 2010 2011 2012 2013 2013 to 2012 growth, % 2014
Dividend per ordinary share, RUB 0.0001614 0.0008 396
Total dividends, RUB thous. 15,460 76,629 396
Total dividends, RUB thous. 15,219 75,537 396

The share of paid-up dividends in the total amount of dividends declared for 2012 was 98.43%, for 2013 — 98.5%. Dividends were paid to all persons included in the dividend list, except for thoses who did not provide reliable and complete details needed for payment of dividends.