Our dividend policy is aimed at preserving a balance between a stable dividend payment and an increase in the Company's capitalization through reinvestment in replication of Engineering Centers, creating innovative solutions and developing our own production. For this reason, the Company's shareholder value will continue to increase in the long term.
The annual forecasted dividend is 20% or more of net profit according to IFRS reporting, thanks to the Company's implementation of technologies for selecting high-margin orders and creating a flexible high-performance project management system.
The General Shareholders Meeting of PJSC Evropeiskaya Elektrotechnica approves the resolution on payment of dividends based upon the recommendations of the Board of Directors. At the same time, the size of the dividend payment cannot exceed that recommended by the Board of Directors.
When giving recommendations to the General Shareholders Meeting on the amount of dividends and the payment procedure, the Board of Directors is guided by the principle of an optimal combination of effective development of PJSC Evropeiskaya Elektrotechnica and respect of shareholders' rights to receive part of the net profit in the form of dividends.
The procedure for making a decision on payment of dividends and calculating the amount of dividends is regulated by the current legislation of the Russian Federation, the Charter, and the Regulations on the dividend policy of the Company.