In 2015, there were no changes in the Company’s shareholder structure. JSC FPC’s main shareholder is JSC RZD (Russian Railways). JSC Baminvest owns one share in JSC FPC.
In May 2015, JSC FPC completed another additional issue of shares worth a total of RUB 12,825,192,406.
The shares were paid for with cash in the total amount of RUB 4.5 billion and by transferring property with a total value of RUB 8.3 billion, including
As at 31 December 2015, the Company’s share capital was RUB 165,461,040,539.
| Type, class of securities | Registered ordinary shares |
|---|---|
| Form of shares issued | uncertified |
| Number of shares issued | 165,461,040,539 shares |
| State registration number | 1 01 55465 E |
| Par value per share | RUB 1 |
| Name | Number of voting shares | Percentage of voting shares, % |
|---|---|---|
| JSC RZD | 165,461,040,538 | 99.999999999 |
| JSC Baminvest | 1 | 0.000000001 |
| Total | 165,461,040,539 | 100 |
At the annual General Shareholders Meetings in 2010, 2011 and 2012, JSC FPC’s shareholders resolved not to pay dividends.
In 2013, the General Shareholders Meeting resolved to use retained earnings from prior years to pay a dividend and simultaneously contribute the said dividend amount into the share capital of JSC FPC to finance the Company’s investment programme.
In 2014, the General Shareholders Meeting resolved not to pay a dividend due to loss-making performance for the year.
In 2015, the Company made a net profit of RUB 141,081,000. The final decision on dividend payment will be made by JSC FPC’s General Shareholders Meeting in June 2016.
On 17 December 2012, JSC FPC’s Board of Directors approved the Regulations on JSC FPC’s Dividend Policy.
In accordance with the Regulations, the amount of a full year dividend is a sum total of a fixed dividend (DIV1) and a residual dividend (DIV2).
Fixed dividend (DIV1) = Net profit for the reporting year * (fixed dividend payment (no less than 25%)) + change coefficient reflecting the variance between the Company’s actual net profit and the target value (CT).
Where the deviation between the actual and target net profit is no greater than 15%, CT is equal to 0.
Where the deviation between the actual and target net profit is greater than 15% but no greater than 50%, CT is equal to 5%.
Where the deviation between the actual and target net profit is greater than 50%, CT is equal to 10%.
Residual dividend (DIV2) = Net profit for the reporting year — the amount of mandatory contributions deducted from the net profit (reserve fund and charities) — the amount of fixed dividend (DIV1) — the portion of the Company profit used to finance the Company’s Investment Programme (investment programme — deprecation — borrowings).
