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Main page For Investors and Shareholders Questions and answers for shareholders Right to receive dividend on the Company shares
Right to receive dividend on the Company shares

Resolutions on the payment (declaration) of dividends, including resolutions on the amount of dividends on shares of each category (type), the form of their payment, the procedure for paying dividends in nonmonetary form, the date by which the persons entitled to receive dividends are determined, are adopted by the General Shareholders Meeting. Resolution of the General Shareholders Meeting on setting the date to determine persons entitled to receive dividends shall only be adopted at the suggestion of the Board of Directors of the Company.

The source of dividend payment is the after-tax income of Rosneft (net income of the Company). The net income of Rosneft is determined according to the Company’s accounting (financial) statements compiled in accordance with the requirements of Russian legislation.

At the extraordinary General Shareholders Meeting of Rosneft held on September 28, 2018, a decision was made to pay the dividends based on the Company performance results in the 1st half of 2018 in monetary form in the amount of 14.58 rubles per one ordinary share.

At the annual General Shareholders Meeting of Rosneft held on June 04, 2019, a decision was made to pay the dividends based on the Company performance results in 2018 in monetary form in the amount of 11.33 rubles per one ordinary share.

In accordance with Article 42 Clause 6 of the Federal Law On Joint Stock Companies No. 208-FZ of 26.12.1995, the term for dividend remittance to a nominee holder or a trust manager that is a security market professional, all as listed on the share register, shall not exceed 10 business days; and the term for dividend remittance to other persons listed on the share register shall not exceed 25 business days from the date of determining the persons entitled to receive dividends.

The General Shareholders Meeting shall decide on the date on which the persons entitled to receive dividends are determined. Shareholders who were owners of the Company’s shares on the date on which the General Shareholders Meeting determined the persons entitled to receive dividends, shall receive dividends on the shares of Rosneft for the reporting year.

The date to determine persons entitled to receive such dividends, pursuant to the dividend payment/declaration resolution, shall not be set earlier than 10 days or later than 20 days from the date of the said dividend payment/declaration resolution was adopted.

Therefore, if the Company’s shareholder sells shares before the date on which the General Shareholders Meeting determines the persons entitled to receive dividends, or if the Company’s shares are acquired after the date of drawing up the specified list, dividends will not be received by the seller or the purchaser of shares.

In accordance with Article 214 Clause 3 of the Tax Code of the Russian Federation, calculation of the tax amount and payment of tax on income from equity participation in an organization received in the form of dividends are made by a person recognized as a tax agent, separately for each taxpayer and for each payment of these incomes, i.e. Rosneft or a nominal holder of shares, when paying dividends, shall withhold tax and transfer it to the budget, and the shareholder shall receive after-tax dividends.

The amount of tax is determined separately for each taxpayer at the rate and in the manner prescribed by the Tax Code of the Russian Federation.

For individuals who are tax residents of the Russian Federation, the tax on income from equity participation in the activities of organizations received in the form of dividends is calculated from 01.01.2015 at the rate of 13%, for individuals who are not tax residents of the Russian Federation - at the rate of 15%.

For legal entities that are tax residents of the Russian Federation, the tax on income from equity participation in the activities of organizations received in the form of dividends is calculated from 01.01.2015 at the rate of 13%, for legal entities that are not tax residents of the Russian Federation - at the rate of 15%.

In taxation of dividends of a foreign legal entity that is a resident of a country with which the Russian Federation has an agreement on avoidance of double taxation, on the basis of article 7 of the Tax Code of the Russian Federation and in accordance with Article 312 of the Tax Code of the Russian Federation there is a possibility of exemption from taxation or application of a reduced tax rate.

In accordance with Article 275 Clause 5 and Article 210 Clause 2 of the Tax Code of the Russian Federation, when paying dividends on shares of Rosneft in 2014 to residents of the Russian Federation, Rosneft has no obligation to withhold and pay tax on income from equity participation and individual income tax, as the amount of dividends received by Rosneft from participation in other entities at the time of distribution of dividends to the recipients exceeds the amount of dividends payable to the shareholders of Rosneft who are residents of the Russian Federation.

Dividends on shares of Rosneft PJSC are paid by bank or postal transfer, in accordance with the form of income generation indicated in the application form of the registered person.

In accordance with Article 229 Clause 1 of the Tax Code of the Russian Federation (hereinafter referred to as the TC RF) the obligation to submit an income declaration to the tax office is binding on individuals listed in Articles 227 and 228 of the TC RF (including individuals who receive income which is not subject to taxation by the tax agents), namely:

  1. individuals registered in accordance with the procedure established by the current legislation and engaged in entrepreneurial activity without forming a legal entity - on the amounts of income received from the implementation of such activity;
  2. notaries engaged in private practice, lawyers who have established law offices and other persons engaged in private practice in accordance with the procedure established by the current legislation - on the amounts of income received from such activities;
  3. individuals - based on the amounts of remuneration received from individuals and organizations that are not tax agents, on the basis of employment contracts and civil labor contracts, including income on employment contracts or lease agreements regarding any property;
  4. individuals - based on the amounts received from the sale of property owned by these persons on the right of ownership;
  5. individuals who are tax residents of the Russian Federation, except for the Russian military personnel specified in Article 207 Clause 3 of the TC RF, which receive the income from the sources outside the Russian Federation - based on the amounts of such income;
  6. individuals who receive other types of income, which is not subject to taxation by the tax agents - based on the amount of such income;
  7. individuals who receive winnings paid by lottery operators, distributors and organizers of gambling games held at the bookmaker’s office and totalizators - based on the amounts of such winnings not exceeding 15,000 rubles, as well as individuals who receive winnings paid by the organizers of gambling games not related to gambling in the bookmaker’s office and totalizator - based on the amounts of such winnings;
  8. individuals which receive income in the form of remuneration paid to them as heirs (successors) of authors of works of science, literature, art, as well as authors of inventions, utility models and design solutions
  9. individuals who receive income in monetary or in kind in the order of donation, with the exception of cases provided for by Article 217 Clause 18.1 of the TC RF;
  10. individuals who receive income in the form of the monetary equivalent of immovable property and (or) securities transferred for the replenishment of the target capital of nonprofit organizations in the procedure established by the Federal Law No. 275-FZ On Procedure of Formation and Utilization of Target Capital of Non-commercial Organizations of December 30, 2006 of, except for the cases provided for by the Article 217 Clause 52 (3) of the TC RF.

If the shareholder does not belong to the category of persons listed in Articles 227 and 228 of the TC RF, submission of a tax return on personal income tax, including income received in the form of dividends, is not required. At the same time, in accordance with Article 229 Clause 2 of the TC RF, individuals who are not obliged to submit a tax return have the right to submit such tax return to the tax authority at the place of residence.

1. If registration of rights to shares is carried out by a nominee holder.

According to Article 8.7 Clause 1 of the Federal Law On Securities Market, owners of shares and other persons exercising rights on securities, the rights of which are recorded in the depository, receive dividends on shares in monetary form through the depository, of which they are depositors. Under Article 226.1 of the Tax Code of the Russian Federation, the depositary which pays income to a taxpayer on securities issued by Russian organizations, the rights for which are recorded in such a depositary on the date specified in the Resolution to pay (declare) income, is a tax agent.

Accordingly, in order to obtain a certificate of income received in 2017 in the form of dividends on shares of Rosneft in the Form No. 2-NDFL, the shareholder shall contact the depositary in which the custody account is opened to register rights to his/her shares of Rosneft.

2. If the registration of rights to shares is carried out by a specialized registrar.

If dividends on shares of Rosneft are received in 2018, the registration of ownership rights to which is carried out by a specialized registrar of Rosneft - Reestr-RN LLC, the shareholder can obtain a certificate of income in the Form No. 2-NDFL by submitting an application addressed to the Head or Chief Accountant of the Company. The application must contain the following information about the shareholder:

  • last name, first name, patronymic;
  • passport information:
  • place of domicile;
  • postal address (if necessary, fax, e-mail) for sending income statement;
  • the period (year) in which the income was received and for which a certificate is required;
  • signature

Requests for issuance of certificates in the Form No. 2-NDFL can be sent to Rosneft to the following address: 26/1, Sofiyskaya Embankment, Moscow, 117997, or to the following e-mail addresses: l_musalimova@rn-uchet.rosneft.ru (Lyubov N. Musalimova, tel. +7 (499) 517-88-88, ext. 35311) or e_tistol@rn-uchet.rosneft.ru (Elena L. Tistol, tel. +7 (499) 517-88-88, ext. 33085).