Dividend policy

The dividend policy of PJSC TATNEFT is elaborated in compliance with the Federal Law «On joint-stock companies» and the Company's Articles of Association. According to the Articles of Association, holders of privileged shares are entitled to receive an annual fixed dividend,which is equal to 100% of the share face value, unless the General meeting of the shareholders decides otherwise (clause 5.4).

Decision on the amount of dividends for ordinary shares is made by the general shareholders meeting based on the recommendation of the Board of Directors of the Company. The Company continues adhering to the positive dividend policy maintaining a high level of dividends payments every year.

In 2009, according tot he results of TATNEFT's activity in 2008, the total sum of dividends for the preferred and ordinary shares amounted to RUR 10.3 billion or 30% of the net annual profit. The value of dividends charged per 1 share amounted to 4.42 rubles (442% of the share face value).

The dividends profitability with regard to the market cost of the ordinary shares amounted to 4.7% by the end of 2009.

DIVIDENDS ON ORDINARY AND PRIVILEGED SHARES (IN RUR PER ONE SHARE)
SHARE TYPE% OF THE NOMINAL VALUEDIVIDEND AMOUNT
2007  
ordinary shares565%5,65
privileged shares565%5,65
2008  
ordinary shares442%4,42
privileged shares442%4,42
2009  
ordinary shares656%6,56
privileged shares656%6,56
2010  
ordinary shares502%5,02
privileged shares502%5,02
2011*  
ordinary shares708%7,08
privileged shares708%7,08
2012  
ordinary shares860%8,60
privileged shares860%8,60
2013  
ordinary shares823%8,23
privileged shares823%8,23
* amount of dividends recommended by the Board of Directors for desicion -making by the Meeting of the Shareholders