Dividends

To determine the recommended amount of dividends that will be payable, the Group’s Board of Directors abides by the dividend policy. The general meeting of shareholders, upon recommendation of the Board of Directors, determines how the remainder of the annual net profits of the Company should be disposed of, including by way of stock dividend, it being understood that the remaining net profits of the Company left after payment of dividends shall be used for business development of the Company and its subsidiaries and the development of the retail business of the Group in Russia. Interim dividends may be declared and paid (including by way of staggered payments) by the Board of Directors, subject to observing the terms and conditions provided by law either by way of a cash dividend or by way of an in kind dividend.

Dividend paid

Period	Record date	Amount of dividend per GDR, (US$ cents, gross)	Amount of accrued dividend (US$, gross)
Interim dividends 2011	12 Sep 2011	9.9481	26 767 750.60
Interim dividends 2012	23 Feb 2012	10.254	27 590 847.96
Interim dividends 2013	15 Feb 2013	18.953	50 997 595.22
Interim dividends 2014	17 Oct 2014	7.433	20 000 270.42
Interim dividends 2014	18 Feb 2014	22.670	60 999 075.80
Interim dividends 2015	11 Sep 2015	8.920	24 001 400.80
Interim dividends 2016	08 Jul 2016	8.548	23 000 445.52
Interim dividends 2017	20 Jan 2017	9.167	24 666 013.58
Interim dividends 2018	25 Jan 2018	12.367	33 276 381.58
Interim dividends 2019	03 Oct 2019	0.05635	15 162 319.90
Interim dividends 2020	04 Nov 2020	0.028275	7 608 067.35

Taxation

As a general rule, the Company withholds 15% WHT from the dividend paid from Luxembourg for distribution to the holders of GDRs.

This information is provided for information purposes only. Potential and current investors should seek the advice of professional consultants on tax matters related to investments in the shares and GDRs of the Company.