The Company's dividend policy is based on the principle of fair distribution of profit among all its shareholders pro rata their respective holdings of relevant classes of shares, taking into account a rational correlation of the amount paid in dividends and the funds needed to carry out the strategic plans of the Company’s development. The dividend on preference shares cannot be lower than as determined in the Company's Articles of Association.
Baltika seeks to steadily increase the amount of money allocated to pay dividends to shareholders. The dividend per ordinary share paid out for 2008 was more than 27 times greater than what was paid out for the year 2000.
In recent years, Baltika has held a policy of paying equal dividend on both ordinary and preference shares.
Period for which dividend is paid
Size of dividend per common share, RUR
Size of dividend per preferred share, RUR
Form of payment
Ordinary shares dividend performance ( % to 2000)
Preferred shares dividend performance (% to 2000)
2000 *
3.16
4.11
Cash
100
100
2001 *
8.5
11
Cash
269
268
2002
9.32
12.12
Cash
295
295
2003
11.64
15.13
Cash
368
368
2004
13.94
18.12
Cash
441
441
2005
24.33
24.33
Cash
770
592
2006
39.50
39.50
Cash
1250
961
2007
52.00
52.00
Cash
1646
1265
2008
85.10
85.10
Cash
2693
2071
* The size of dividend provided with regard to the share split under which each ordinary and preferred share of the Company of 80 RUR per value was converted into 80 shares of relevant category of 1RUR per value each.
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