Dividend policy
Dividend policy of MOTOR SICH JSC is based on the balance of interests of the Company and its shareholders, on increasing the investment appeal of the Company and its capitalization, on respect for the shareholders and strict observance of their rights, provided by the legislation of Ukraine, Statute of the Company and its internal documents.
The foreground direction of using of the Company’s net profit (after-tax) is programs of further development of production financing for the purpose of future money flow increase, growth of the investment appeal of the Company and, as a consequence, shares rate increase. Along with the growth of capitalization the Company turns a part of net profit for distribution of dividends and ensures their stable growth.
MOTOR SICH JSC systematically performs reconstruction and technical re-equipment of operating production, renewal of machine tool equipment, acquisition of technologies and financing works on mastering new modern types of engines, improving the quality of manufactured products, contributing to the Company profits growth.
According to the Company’s Statute dividends are paid out of the net profit of the reporting year and/or undistributed profit in amount established by the General Meeting of Shareholders of MOTOR SICH JSC. Determining the date of drawing up the list of persons who have the right to receive dividends, the order and terms of their payment belongs to the exclusive competence of the Supervisory Board.
The Executive Body of the Company ensures the compilation of shareholders list on the date determined by the Supervisory Board in accordance with the information provided by the depository, which keeps records of ownership rights of the Company's shares.
A shareholder included in the above list is entitled to get dividends for the period under report, irrespective of the period during which he was a shareholder. The declared dividends are paid in monetary form. The amount of dividends is declared on the basis of one share. The Supervisory Board establishes the start and end date of dividend payment, the method of payment.
The Company keeps track of accrued and paid dividends for the entire period of existence of the joint-stock company. Dividends are paid for the reporting and previous periods, if the shareholders did not receive them earlier for some reason. The process of paying dividends is regulated by legislation, the Statute and the Regulation on the procedure for paying dividends.
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