Regulations on Dividend Policy

In accordance with clause 6.2. of Article 6 of the Articles of Association of Rosseti Centre’s (the public name IDGC of Centre, PJSC), shareholders owning ordinary shares of the Company have the right to receive dividends declared by the Company.

Regulations on Dividend Policy (pdf, 164Kb)

Appendix to the Regulations on Dividend Policy (pdf, 124Kb)

In accordance with clause 7 of the Articles of Association of Rosseti Centre’s (the public name IDGC of Centre, PJSC):

• The Company is entitled to resolve on (declare) share dividend payment on the results of the first quarter, half-year, nine months of the reporting year and (or) of the whole fiscal year. The decision on dividend payment (declaration) on the results of the first quarter, half-year or nine months of the reporting year may be made within three months after the corresponding period. The Company must pay the declared dividends of the shares of each category (type), unless otherwise provided by the Federal Law "On Joint Stock Companies".
• The decision to pay (declare) dividends is made by the General Meeting of Shareholders of the Company. The said decision shall determine the amount of dividends on shares of each category (type), the form of their payment, the procedure for payment of dividends in non-monetary form, the date on which the persons entitled to receive dividends are recorded. In this case, the decision regarding the establishment of the date on which the persons entitled to receive dividends are recorded is made only at the suggestion of the Board of Directors of the Company. The amount of dividends cannot exceed the amount of dividends recommended by the Board of Directors of the Company. The General Meeting of Shareholders of the Company has the right to decide on non-payment of dividends on ordinary shares.
• The Company does not have a right to resolve on (declare) share dividend payment and to pay the declared share dividends in cases stipulated by the legislation of the Russian Federation.
• The source of dividend payment is the Company’s profit after taxation (net profit of the Company). Net profit of the Company is determined by the data of the Company’s financial statements.

• The term of payment of dividends by the Company to a nominal holder and being a professional participant of the securities trustee, who are registered in the register of shareholders, shall not exceed 10 working days, and other persons registered in the registry of shareholders - 25 working days from the date on which the persons entitled to receive dividends are recorded. The date, on which, in accordance with the decision on payment (declaration) of dividends, persons entitled to receive them are recorded, cannot be earlier than 10 days from the date of the decision on payment (declaration) of dividends, and later than 20 days from the date of the decision. Dividends are paid to persons who are holders of shares of the relevant category (type) or those having in accordance with federal laws the rights of these shares at the end of the trading day on the date, on which, in accordance with the decision on payment of dividends persons entitled to receive them, are recorded. Payment of dividends in cash is paid by the Company by bank transfer or on its behalf by the Registrar maintaining the register of shareholders of the Company or a credit institution. Payment of dividends in cash to individuals, whose rights to shares are recorded in the register of shareholders of the Company, is made by transferring funds to their bank accounts or special accounts of operators of financial platforms, opened in accordance with the Federal Law "On financial transactions using a financial platform", the details of which are available from the registrar of the Company, or in the absence of information about bank accounts, special accounts of operators financial platforms by postal money transfer, and to other persons, whose rights to shares are recorded in the register of shareholders of the Company, by transferring funds to their bank accounts. The obligation of the Company to pay dividends to such persons is considered to be executed from the date of receiving the transferred monetary funds by the federal postal service, or from the date of receipt of funds by a credit institution, which opened a bank account of the person entitled to receive such dividend, and if such an entity is a credit institution - to its account. Persons, who are entitled to receive dividends and the right on whose shares is registered with a nominee holder of shares, receive dividends in cash in accordance with the legislation of the Russian Federation on securities. A nominee, who has been transferred the dividends to and who has not fulfilled the obligation to transfer them, set by the legislation of the Russian Federation on securities, for reasons beyond his control, is obliged to return them to the Company within 10 days after the expiration of one month from the date of expiry of the payment of dividends.

   
• A person, who has not received the declared dividend due to the fact that the Company or the registrar has no accurate and appropriate address data or bank details, or due to a delay by the creditor, may apply with a claim to pay dividends (unclaimed dividends) within three years from the date of the decision on their payment. The time limit for making a claim for payment of unclaimed dividends when missed cannot be restored, except if the person having the right to receive dividends has not submitted this claim under the influence of violence or threats. After such a period declared and unclaimed dividends are restored in retained earnings of the Company and the obligation to pay them is terminated.

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