The company's dividend policy was updated in 2015 in order to provide maximum clarity for shareholders and all interested parties with regard to strategy for the distribution and usage of NLMK net profit.

According to the current dividend policy, dividends are to be paid with the payout in the range of:

  • 30% of net profit and 30% of free cash flow calculated based on US GAAP/IFRS consolidated financial statements, if Net Debt/EBITDA exceeds 1.0x.
  • Если соотношение «Чистый долг / EBITDA» выше 1,0: уровень дивидендных выплат находится в диапазоне, границами которого являются 30% чистой прибыли и 30% свободного денежного потока, рассчитываемых по консолидированной финансовой отчетности, подготовленной в соответствии с ОПБУ США/ МСФО.
  • Dividends are paid annually. If conditions for financial stability are maintained, NLMK will strive to pay interim dividends on a quarterly basis.

    The amount to be paid as a dividend for a specific period is approved by company shareholders in line with recommendations by the board of directors.

    Year Period Dividend per share Declaration date Amount Dividend pay-out ratio
    2002 Full Year RUR312.5
    (USD 10.3001)*
    27/6/2003 RUR1,871.0 million
    USD61.7 million
    2003 Full year RUR0.6045
    25/6/2004 RUR3,622.9 million
    USD124,8 million
    2004 Full year RUR1.8
    20/5/2005 RUR10,787.8 million
    of which 9 months interim RUR1
    3/12/2004 RUR5,993.2 million
    USD214.0 million
    2005 Full year RUR3
    6/6/2006 RUR17,979.7
    of which 6 months interim RUR1
    26/9/2005 RUR5 993.2 million
    USD210.8 million
    2006 Full year RUR3
    5/6/2007 RUR17,979.7 million
    USD683.3 million
    of which 6 months interim RUR1.5
    29/9/2006 RUR8,989.8 million
    USD336.1 million
    2007 Full year RUR3
    6/6/2008 RUR17,979.7 million
    USD737.7 million
    of which 6 months interim RUR1.5
    28/09/07 RUR8,989.8 million
    USD360.1 million
    2008 Full year RUR2
    5/6/2009 RUR11,986.5 million
    USD471.3 million
    of which 6 months interim RUR2
    19/9/2008 RUR11,986.5 million
    USD471.3 million
    2009 Full year RUR0.22
    4/6/2010 RUR1,318.5 million
    USD42.7 million
    2010 Full year RUR1.82
    3/6/2011 RUR10,907.7 million
    USD378.7 million
    of which 6 months interim RUR0.62
    30/09/2010 RUR3.715,8 million
    USD122.2 million
    2011 Full year
    30/05/2012 RUR11,986.5 million
    USD375.8 million
    of which 6 months interim RUR1.4
    29/09/2011 RUR8,390.5 million
    USD263.7 million
    2012 Full year RUR0.62
    7/6/2013 RUR3,716 million
    USD116 million
    Full year RUR0.67
    6/6/2014 RUR4,015.5 million
    USD115 million
    2014  Full year RUR2.44
    30/09/2014 RUR14,623.5 million
    USD303.9 million
    2014 of which 6 months interim RUR0.88
    05/06/2015  RUR5,274.0 million
    USD133.9 million
    2015 1 Quarter RUR1.64
    05/06/2015 RUR9,828.9 million
    USD178.7 million
    2 Quarter
    RUR5,573.7 million
    USD84.1 million


    In accordance with Russian legislation, the rate of taxation of dividend payments for corporate shareholders who are residents of the Russian Federation is 13%; for corporate shareholders who are non-residents, it is 15%; for individuals, the rates are 13% and 15% respectively. Where an avoidance of double taxation agreement is in effect, tax payments are made in accordance with the rates specified in the agreement.

    Note: Information on taxation is provided for general information purposes only. Potential and existing investors should consult with their own advisors regarding the tax consequences of investing in the Company’s shares, including Global Depositary Shares (GDS).