Page 117 - RusRPTApr24

8.3 Stock market
8.3.1 Equity market dynamics
8.3.2 Dividends dynamics
● Oil & gas
The Board of Directors at Lukoil, one of Russia's leading oil companies, has proposed dividends of 498 rubles per share for the second half of 2023, translating to a dividend yield of 6.8%. The recommendation, announced on Friday, March 22, falls 27.4% short of consensus expectations. The record date for the dividend distribution has been set for May 7. Taking into account the dividends for the second half of the year, Lukoil could distribute a total of 945 rubles per share for the entirety of 2023, achieving a dividend yield of 12.9%. This move underscores Lukoil's commitment to shareholder returns, even as the dividend recommendation for H2 2023 did not meet market expectations.
117 RUSSIA Country Report April 2024 www.intellinews.com