Dividends on Surgutneftegaz preferred shares in 2021 - size and register closure date

Surgutneftegaz is a private oil company ranked among the top three in Russia. Primarily engaged in the processing of oil fields, the sale of oil and petroleum products. In the article we will talk about how Surgutneftegaz lives, about its shares, and also forecast their value for 2022.

The Surgutneft company, which produced oil in the western part of Siberia, became an open company, Surgutneftegaz, in 1993. Next, the oil refinery of the city of Kirish, as well as a couple of sales enterprises, were added to it. Subsequently, the shares were redistributed: 45% were transferred to the state, 8% were sold at a closed auction, 7% were bought by the company itself with vouchers, and the remaining 40% were put up for a loans-for-shares auction, where the non-state pension fund Surgutneftegaz won.

The management of the enterprise tries to maintain internal control as much as possible, without seeking to obtain financing from foreign investors. In order to prevent a “hostile” takeover, at the beginning of the 2000s, management decided to transfer shares to its subsidiaries. Because of this, there were many conflicts and discontent among minority shareholders.

The Russian stock market still considers Surgutneftegaz a “dark horse”, and even now the exact cost of capital remains a mystery.

The essence of Surgutneftegaz’s business:

• Oil production. The main activity of the company: it accounts for 11% of oil production from the entire country, second only to Rosneft and Lukoil. Oil is mainly produced in Western and Eastern Siberia, as well as in Timan-Pechora. They sell it immediately in its raw form, and according to the results, the company received more than 1 trillion from this - 64% of revenue.
• Oil refining. Surgutneftegaz has an oil refinery located in the Leningrad region. According to 2019 information, they processed 18.6 million tons of petroleum products, but only 55% of them are “light” products, which are much more profitable.
• Petroleum products are sold wholesale and retail - according to 2021 data, sales brought in 33.5% of revenue.
• Other revenue brings in 2.5% of income. Here the company earns money by selling gas, gas products and other goods.

As you can see, the main profit and top business of Surgutneftegaz is trading in crude oil. Refining yields half as much, and gas for the enterprise is only a by-product, which brings in almost no money. In theory, the value of shares is directly related to the price of oil. But it is not so.

What makes up the profit of Surgutneftegaz

The company's marginal revenue is not that high, but in 2014-2015 and 2021. she made incredibly high profits . The forecast based on the latest news is also quite good - but more on that later.

As mentioned earlier, the enterprise is quite secretive; no active actions or ambitious projects have been noticed. During the entire period of Surgutneftegas's operation on the market, the number of dividends could not be called large. The company was neither issuing bonds nor attracting investors - it was only steadily pumping and selling oil, without investing in expensive projects and without expanding its influence. Thus, Surgutneftegaz managed to obtain a sufficient amount of dollar savings.

All this money is on deposits in dollars, thanks to which the company has interest income - of course, when the interest rate is lowered, the income item becomes less significant, but the fact remains. The price of Surgutneftegaz shares depends on the current dollar exchange rate - when the ruble weakens, foreign currency savings, on the contrary, increase. All of the above affects the company's underlying value and quotation.

The company issues shares of two types:

• ordinary;
• privileged.

For ordinary shares, Surgutneftegas pays no more than 65 kopecks per share, and in “bad” times even less - 60 kopecks. Dividends are low but stable, which is a plus for shareholders.

The dependence on the ruble exchange rate is most clearly expressed in terms of preference shares - let’s look at this in more detail.

Shareholders of Surgutneftegaz should not hope for good dividends from the company

https://www.znak.com/2016-10-04/akcioneram_surgutneftegaza_ne_stoit_nadeyatsya_na_horoshie_dividendy_ot_kompanii 2016.10.04

The board of directors of one of the richest approved the dividend policy, Vedomosti writes with reference to the company. But the document does not provide any additional guarantees for shareholders. It only states that the CIS will pay dividends on preferred shares of 10% of net profit. At the same time, payments on one such security cannot be less than dividends on ordinary shares.

General Director of Surgutneftegaz Vladimir Bogdanov

A person close to the company explains that Surgutneftegaz follows the Corporate Governance Code approved by the Central Bank. There are no clear deadlines for completing the process, but the company has already acquired independent directors and a number of new provisions required by the code, he notes. A representative of Surgutneftegaz declined to comment.

Vedomosti

Investors did not expect any surprises from Surgutneftegaz, says UBS analyst Maxim Moshkov. Nevertheless, the company’s capitalization on the Moscow Exchange on Monday decreased by 1.9% to 1.3 trillion rubles. This is primarily due to the strengthening of the ruble: it increased by 0.49% to 62.33 rubles per dollar, notes Raiffeisenbank analyst Andrey Polishchuk. According to him, the strengthening of the ruble may negatively affect the recalculation of exchange rate differences of the company and lead to a decrease in net profit for the year or even to a loss.

Even with a loss, Surgutneftegaz will most likely pay at least minimum dividends on preferred shares so that they do not become voting, Polishchuk believes. In addition, even if there is no profit at the end of 2021, the company has money, Moshkov points out. Its financial cushion is $36 billion.

"Surgutneftegaz" in terms of financial assets was comparable to the largest banks

In 2015, Surgutneftegaz received 751.3 billion rubles in net profit under RAS (for the first half of 2021, the company recorded a loss of 142 billion rubles), it follows from the company’s reports. At the annual meeting, shareholders approved dividends for last year - 74.7 billion rubles, of which the company will pay 53.3 billion for preferred shares, and 21.4 billion for ordinary shares (7.09 and 2.85% of net profit, respectively).

It would be correct if the board of directors decided to allocate 40% of net profit under IFRS to dividends on both types of shares, says Alexander Branis, director of Prosperity Capital Management.

Other Russian oil and gas companies pay more. Rosneft and Lukoil pay “at least 25% of net profit” according to IFRS. The first paid 124.5 billion rubles last year (35% of net profit according to IFRS), the second - 150.5 billion rubles (43.3% of net profit according to IFRS). Moshkov notes that the dividend yield on ordinary shares of Surgutneftegaz is 1–2%, while for Rosneft it is about 4–5%, and for Lukoil it is 6–7%.

Do you want independent media in the country? Support Znak.com

Share

Author

News Service

Photo

Press service of the governor of the Tyumen region

On this topic:

SurgutneftegazBillionaire Bogdanov's bank will finance the budget deficit of the Tyumen region by ₽1.6 billionThe head of the Surgut region will insure Komarova's deputy in the State Duma electionsHead of Surgutneftegaz Bogdanov has been reappointed for a new five-year termThe Covid year brought the head of Surgutneftegaz a record $500 million for the last decadeDeposits of Surgutneftegaz increased by 23 % - up to 3.45 trillion rubles Employees of Surgutneftegaz were caught manipulating the company's shares The former mayor of Surgut returned to Surgutneftegaz Another woman is vying for the post of head of Surgut - a total of 22 applicants Surgutneftegaz has received a record profit over the past six years - almost ₽1 trillion In the Khanty-Mansi Autonomous Okrug, a worker died at a Surgutneftegaz drilling rig. In the Khanty-Mansi Autonomous Okrug, scammers trade oil on behalf of the general director of Surgutneftegaz. Surgutneftegaz will additionally allocate about ₽130 million for roads and hospitals in the Khanty-Mansi Autonomous Okrug. » at ₽782 billion. Bogdanov does not control them. “Surgutneftegaz” got rid of 1.08 million voting shares. “Surgutneftegaz” was recognized as the best oil company in the Khanty-Mansi Autonomous Okrug based on the results of last year. “Surgutneftegaz” revenue from oil sales fell by 42% in the first half of the year. Insurance and “Surgutneftegaz” announced about the mergerMinistry of Finance against Sechin. What to expect from the government's attempt to take away ₽200 billion from oil workers "Surgutneftegaz" bought a block of its own shares, which had previously been declared ownerless through the court. Komarova is finding out the reasons for the low turnout in "Surgutneftegaz" at the vote on amendments. % of new cases of coronavirus per day occurred in Surgut and the Surgut region. A third of new coronavirus patients in Khanty-Mansi Autonomous Okrug were again identified on the watch of Surgutneftegaz. complained about the inadequacy of measures at Surgutneftegaz to combat COVID-19. Employees of Surgutneftegaz were sent on sick leave due to suspicions of coronavirus. The coronavirus outbreak at the Surgutneftegaz field continues to produce new patients. A coronavirus outbreak has been identified at the Surgutneftegaz field in Khanty-Mansi Autonomous Okrug. net profit fell eightfold in the year In the Khanty-Mansi Autonomous Okrug, a man fell from the 10th floor of the Surgutneftegaz office. Because of COVID-19, the workers of Surgutneftegaz demanded compensation of ₽100 thousand. Employees of Surgutneftegaz complain that they were not sent for a week homeSurgutneftegaz benefited from the collapse of the ruble. Its shares are predicted to grow by 70%Surgutneftegaz and a subsidiary of Gazprom have introduced preventive measures against coronavirusSurgutneftegaz has risen in price by almost ₽1 trillionThree new candidates have been nominated to the Surgutneftegaz board of directorsThree new candidates have been nominated in the Khanty-Mansi Autonomous Okrug "Won from Surgutneftegaz during the bidding a license for a site in the Khanty-Mansi Autonomous Okrug"Surgutneftegaz will allocate RUB 4.6 billion for projects in 2021 under an agreement with the authorities of the Khanty-Mansi Autonomous Okrug"Surgutneftegaz called heresy the news about the ban on employment in won three sites from "Surgutneftegaz" subsoil at the auctionTransneft transports 61 million tons of oil to Surgutneftegaz in 2021 for ₽134 billionSurgutneftegaz denies that the plane urgently landed in Moscow - BogdanovSurgutneftegaz shares have reached a price maximum for the first time in 13 yearsSurgutneftegaz shares continue their abnormal growth for the third day in a rowSurgutneftegaz shares are again rising sharply in price for reasons unclear to the marketA subsidiary of Surgutneftegaz may participate in a project to switch to a “four-day period”The head of Surgutneftegaz explained the rise in shares Gazprom and Rosneft entered the top 10 rich companies in Europe, the Middle East and AfricaShares of Surgutneftegaz rose in price by 128 billion rubles in a few hoursSurgutneftegaz created a company to invest in securitiesSurgut authorities again changed their minds about selling shares of SurgutneftegazSurgutneftegaz lost to a subsidiary of Rosneft in the Khanty-Mansi Autonomous Okrug title "did not pay 600 million dividends due to lack of information about shareholders"Surgutneftegaz" reported a loss in the first half of 2021"Surgutneftegaz" is suing the authorities of the Khanty-Mansi Autonomous Okrug over a license for sand extractionThe Russian government demanded that oil companies account for dilapidated pipelines"Surgutneftegaz" » by agreement with the authorities of the Khanty-Mansi Autonomous Okrug will allocate 4.6 billion rubles to the region. “Surgutneftegas” will introduce fields this year in the Khanty-Mansi Autonomous Okrug and Eastern Siberia. Sources: at the federal level, the topic of relocating Surgutneftegaz is no longer discussed. In Ugra, a well-known entrepreneur, under the threat of bankruptcy, began to get rid of assets. Bogdanov became poorer by $200 million On the eve of the Arctic forum, Greenpeace asks Putin to protect the northern reserves from the fuel and energy complex. A new deputy general director of Surgutneftegaz for social policy has been appointed. Surgutneftegaz's piggy bank is close in size to the National Welfare Fund. investigation into the death of two workers at the Surgutneftegaz field. "Surgutneftegaz" again wants to legalize oil production in the territory of a natural park in the Khanty-Mansi Autonomous Okrug: in the Khanty-Mansi Autonomous Okrug, during an explosion on a gas pipeline, one person was killed and one was missing. "A subsidiary of Gazprom Neft beat " Surgutneftegaz" in the fight for fields in the Khanty-Mansi Autonomous Okrug. The authorities of the Khanty-Mansi Autonomous Okrug have officially named a new location for the Severstal Mordashov project. The net profit of Surgutneftegaz according to RAS over the nine months has increased almost sevenfold. Lukoil has topped the rating of the largest energy companies and Novatek has sank. Surgutneftegaz will sign a new agreement with the government of the Tyumen region The authorities refused to lease oil wellsMedvedev flies to Surgut. According to one version, to reconcile Mordashov and Bogdanov, Komarov compared Western sanctions against oil workers with accusations of doping against Russian Olympians “Surgutneftegaz earned more than 225 billion rubles from the falling rubleMoor and Komarova met with Bogdanov in SurgutA case of theft has been opened in connection with the oil spill in SurgutMedia: In Surgut due to illegal insertion on an area of ​​8.6 thousand square meters. meters oil spilled "Gazprom" refused to finance festive events for Gas Workers' Day in Surgut "Surgutneftegaz" increased its net profit sixfold in the first half of the year. Tsukanov did not see Bogdanov in the Khanty-Mansi Autonomous Okrug. The general director of “Surgutneftegaz” did not return from vacation “Surgutneftegaz” is again selling its insurer, whose business is declining Employees of “Surgutneftegaz” tried to extinguish the smoke themselves before the explosion at the facility Management of the “subsidiary” of Transneft was interrogated in the case of an explosion at the facility “Surgutneftegaz” One of them died victims of the explosion at the Surgutneftegaz facility The Investigative Committee opened a criminal case in connection with the explosion at the Surgutneftegaz facility The victim of the explosion at the Surgutneftegaz facility had his limbs amputated During the explosion at the Surgutneftegaz facility in the Khanty-Mansi Autonomous Okrug, seven people were injuredSurgutneftegaz increased the cost of DI " Neftyanik" in Surgut up to 1.3 billion rubles. The largest media holding in which Alina Kabaeva works has disappeared from affiliates of the CIS. "Gazprom Neft, due to projects in the Yamal-Nenets Autonomous Okrug, has overtaken Surgutneftegaz in production to Gazprom, Rosneft, LUKOIL and " Surgutneftegaz was banned from buying American softwareRosprirodnadzor did not accept the oil production project from Surgutneftegaz in the Numto parkOil workers called on the Russian government to refuse a new tax on business

Surgutneftegaz preferred dividends

The situation regarding preferred shares is different. The company's charter states that Surgutneftegas is obliged to pay dividends on preferred shares worth at least 10% of net profit divided by the number of shares, which will amount to 25% of the established capital, not forgetting that they must be no less than payments on ordinary shares. In fact, it can be calculated at approximately 7% of the net profit on preferred shares. If the company suffers losses, the minimum payment is the same as usual - 60 kopecks per share.

In fact, large dividend payments are equal to huge profits that Surgutneftegas receives through currency revaluation. Over the past year, the situation has developed like this - in six months the company received 436 billion in profit. Payments amounted to 4.2 rubles per share. By the end of the year, the dollar was worth 74 rubles, and the cost of oil was about 40 dollars per barrel, and the profit margin increased to 6.8 rubles per share.
Dividend yield is 17%. You can go further and make a forecast of Surgutneftegaz dividends in 2021 and even 2022.

Surgutneftegaz did not pay 600 million dividends due to lack of information about shareholders

https://www.znak.com/2019-08-23/surgutneftegaz_ne_vyplatil_600_mln_dividendov_iz_za_otsutstviya_informacii_ob_akcionerah 2019.08.23

reported the payment of dividends for 2021 in the amount of 81.2 billion rubles. At the same time, as stated in the published report of the oil workers, almost 650 million rubles remained unpaid, since the company does not have accurate and necessary address information or bank details of shareholders.

In total, income was accrued on ordinary and preferred shares. Thus, holders of ordinary shares received 23.2 billion rubles, preferred shares - 58 billion rubles. The income per ordinary share was 0.65 rubles, per preferred share - 7.62 rubles.

Based on the results of the first half of the year, Novatek will pay dividends in the amount of more than 43.2 billion rubles

Let us recall that the volume of net profit of Surgutneftegaz according to Russian accounting standards (RAS) in 2021 increased 5.5 times compared to the previous year and amounted to 827.641 billion rubles.

The net profit of Surgutneftegaz according to international financial reporting standards (IFRS) for last year amounted to 850.35 billion rubles, which is 4.4 times higher than the net profit of the previous year.

Do you want independent media in the country? Support Znak.com

Share

Author

Veronica Zavyalova

Photo

Press service of the governor of the Tyumen region

On this topic:

SurgutneftegazBillionaire Bogdanov's bank will finance the budget deficit of the Tyumen region by ₽1.6 billionThe head of the Surgut region will insure Komarova's deputy in the State Duma electionsHead of Surgutneftegaz Bogdanov has been reappointed for a new five-year termThe Covid year brought the head of Surgutneftegaz a record $500 million for the last decadeDeposits of Surgutneftegaz increased by 23 % - up to 3.45 trillion rubles Employees of Surgutneftegaz were caught manipulating the company's shares The former mayor of Surgut returned to Surgutneftegaz Another woman is vying for the post of head of Surgut - a total of 22 applicants Surgutneftegaz has received a record profit over the past six years - almost ₽1 trillion In the Khanty-Mansi Autonomous Okrug, a worker died at a Surgutneftegaz drilling rig. In the Khanty-Mansi Autonomous Okrug, scammers trade oil on behalf of the general director of Surgutneftegaz. Surgutneftegaz will additionally allocate about ₽130 million for roads and hospitals in the Khanty-Mansi Autonomous Okrug. » at ₽782 billion. Bogdanov does not control them. “Surgutneftegaz” got rid of 1.08 million voting shares. “Surgutneftegaz” was recognized as the best oil company in the Khanty-Mansi Autonomous Okrug based on the results of last year. “Surgutneftegaz” revenue from oil sales fell by 42% in the first half of the year. Insurance and “Surgutneftegaz” announced about the mergerMinistry of Finance against Sechin. What to expect from the government's attempt to take away ₽200 billion from oil workers "Surgutneftegaz" bought a block of its own shares, which had previously been declared ownerless through the court. Komarova is finding out the reasons for the low turnout in "Surgutneftegaz" at the vote on amendments. % of new cases of coronavirus per day occurred in Surgut and the Surgut region. A third of new coronavirus patients in Khanty-Mansi Autonomous Okrug were again identified on the watch of Surgutneftegaz. complained about the inadequacy of measures at Surgutneftegaz to combat COVID-19. Employees of Surgutneftegaz were sent on sick leave due to suspicions of coronavirus. The coronavirus outbreak at the Surgutneftegaz field continues to produce new patients. A coronavirus outbreak has been identified at the Surgutneftegaz field in Khanty-Mansi Autonomous Okrug. net profit fell eightfold in the year In the Khanty-Mansi Autonomous Okrug, a man fell from the 10th floor of the Surgutneftegaz office. Because of COVID-19, the workers of Surgutneftegaz demanded compensation of ₽100 thousand. Employees of Surgutneftegaz complain that they were not sent for a week homeSurgutneftegaz benefited from the collapse of the ruble. Its shares are predicted to grow by 70%Surgutneftegaz and a subsidiary of Gazprom have introduced preventive measures against coronavirusSurgutneftegaz has risen in price by almost ₽1 trillionThree new candidates have been nominated to the Surgutneftegaz board of directorsThree new candidates have been nominated in the Khanty-Mansi Autonomous Okrug "Won from Surgutneftegaz during the bidding a license for a site in the Khanty-Mansi Autonomous Okrug"Surgutneftegaz will allocate RUB 4.6 billion for projects in 2021 under an agreement with the authorities of the Khanty-Mansi Autonomous Okrug"Surgutneftegaz called heresy the news about the ban on employment in won three sites from "Surgutneftegaz" subsoil at the auctionTransneft transports 61 million tons of oil to Surgutneftegaz in 2021 for ₽134 billionSurgutneftegaz denies that the plane urgently landed in Moscow - BogdanovSurgutneftegaz shares have reached a price maximum for the first time in 13 yearsSurgutneftegaz shares continue their abnormal growth for the third day in a rowSurgutneftegaz shares are again rising sharply in price for reasons unclear to the marketA subsidiary of Surgutneftegaz may participate in a project to switch to a “four-day period”The head of Surgutneftegaz explained the rise in shares Gazprom and Rosneft entered the top 10 rich companies in Europe, the Middle East and AfricaShares of Surgutneftegaz rose in price by 128 billion rubles in a few hoursSurgutneftegaz created a company to invest in securitiesSurgut authorities again changed their minds about selling shares of SurgutneftegazSurgutneftegaz lost to a subsidiary of Rosneft in the Khanty-Mansi Autonomous Okrug title "reported a loss in the first half of 2019"Surgutneftegas" is suing the authorities of the Khanty-Mansi Autonomous Okrug over a license for sand extractionThe Russian government has demanded that oil companies take stock of dilapidated pipelines"Surgutneftegas", by agreement with the authorities of the Khanty-Mansi Autonomous Okrug, will allocate 4.6 billion rubles to the region"Surgutneftegas" "will commission fields in the Khanty-Mansi Autonomous Okrug and Eastern Siberia this yearSources: at the federal level, the topic of relocating Surgutneftegaz is no longer discussed. In Ugra, a well-known entrepreneur, under threat of bankruptcy, began to get rid of assets. Bogdanov became $200 million poorer. On the eve of the Arctic forum, Greenpeace asks Putin to protect the northern reserves from the fuel and energy complex. Appointed new deputy general director of Surgutneftegaz for social policy Surgutneftegaz's piggy bank is approaching the size of the National Welfare FundIn the Khanty-Mansi Autonomous Okrug, a foreman has been convicted because of which a worker was injured at the Surgutneftegaz field.The Investigative Committee is conducting an investigation into the death of two workers at the Surgutneftegaz field.Surgutneftegas is again wants to legalize oil production on the territory of a natural park in the Khanty-Mansi Autonomous Okrug: in the Khanty-Mansi Autonomous Okrug, during an explosion on a gas pipeline, one person was killed and one was missing. A subsidiary of Gazprom Neft beat Surgutneftegaz in the fight for fields in the Khanty-Mansi Autonomous Okrug. Authorities in the Khanty-Mansi Autonomous Okrug have officially named a new location for the project Mordashov's SeverstalSurgutneftegaz's net profit under RAS increased almost sevenfold in nine monthsLukoil topped the ranking of the largest energy companies and Novatek sankSurgutneftegaz will sign a new agreement with the government of the Tyumen regionThe authorities refused to lease oil wellsMedvedev flies to Surgut. According to one version, to reconcile Mordashov and Bogdanov, Komarov compared Western sanctions against oil workers with accusations of doping against Russian Olympians “Surgutneftegaz earned more than 225 billion rubles from the falling rubleMoor and Komarova met with Bogdanov in SurgutA case of theft has been opened in connection with the oil spill in SurgutMedia: In Surgut due to illegal insertion on an area of ​​8.6 thousand square meters. meters oil spilled "Gazprom" refused to finance festive events for Gas Workers' Day in Surgut "Surgutneftegaz" increased its net profit sixfold in the first half of the year. Tsukanov did not see Bogdanov in the Khanty-Mansi Autonomous Okrug. The general director of “Surgutneftegaz” did not return from vacation “Surgutneftegaz” is again selling its insurer, whose business is declining Employees of “Surgutneftegaz” tried to extinguish the smoke themselves before the explosion at the facility Management of the “subsidiary” of Transneft was interrogated in the case of an explosion at the facility “Surgutneftegaz” One of them died victims of the explosion at the Surgutneftegaz facility The Investigative Committee opened a criminal case in connection with the explosion at the Surgutneftegaz facility The victim of the explosion at the Surgutneftegaz facility had his limbs amputated During the explosion at the Surgutneftegaz facility in the Khanty-Mansi Autonomous Okrug, seven people were injuredSurgutneftegaz increased the cost of DI " Neftyanik" in Surgut up to 1.3 billion rubles. The largest media holding in which Alina Kabaeva works has disappeared from affiliates of the CIS. "Gazprom Neft, due to projects in the Yamal-Nenets Autonomous Okrug, has overtaken Surgutneftegaz in production to Gazprom, Rosneft, LUKOIL and " Surgutneftegaz was banned from buying American softwareRosprirodnadzor did not accept the oil production project from Surgutneftegaz in the Numto parkOil workers called on the Russian government to refuse a new tax on businessMedvedev and Sechin launched a Rosneft field in the Khanty-Mansi Autonomous Okrug

Dividend payment procedure

But in general, according to the regulations on the dividend policy of Surgutneftegas from 2021, the procedure for paying dividends is quite simple.

• All persons who were registered in the register of shareholders and have the right to receive dividends in the Russian Federation have the right to receive dividends.
• The money must be paid within the time limits established by the current legislation of the Russian Federation.
• The company has the right to fulfill the obligation to pay dividends at any time during the payment period established by the current legislation of the Russian Federation.
• Dividends are paid in cash.

Dividends on Surgutneftegaz preferred shares in 2021 - size and register closure date

Home → Dividends→ Surgutneftegaz preferred shares - forecast, payment history

A table with the complete history of dividends of the company Surgutneftegaz preferred, indicating the amount of payment, the date of closure of the register and the forecast:

*Note 1: The Moscow Exchange operates on the T+2 trading system. This means that settlements for buying and selling shares occur within 2 business days. Therefore, to be included in the register of shareholders and receive dividends, you must be a shareholder 2 days before the cutoff.

*Note 2: Exact payout date varies by broker and issuer. The predicted nearest date for receipt of dividends to the brokerage account for the company Surgnfgz-p: August 2, 2021.

Total dividends of Surgutneftegaz preferred shares by year and changes in their size compared to the previous year:

The amount of dividends paid by Surgutneftegaz Prefs for the entire period is 45.779 rubles.

Average amount for 3 years: 5.1 rubles, for 5 years: 3.46 rubles.

DSI indicator: 0.79.

You can buy Surgutneftegaz preferred shares with minimal commissions from stock brokers: Finam and BCS. Free deposits and withdrawals. Online registration.

Brief information about the issuer Surgutneftegaz PJSC ap

Other companies from the Oil/Gas sector

Calendar with upcoming and past dividend payments

View full calendar for 2021 »

7 Best Dividend Stocks for 2021

View the full company rating for 2021 »

Interesting read:

• How to buy shares as an individual - a complete guide;
• How to start trading on the stock exchange - step-by-step plan;
• How to buy securities;
• How to create an investment portfolio for a beginner;
• How much money is needed for dividends to be 50,000 rubles per month;
• How to buy Sberbank shares;
• How to calculate stock returns;
• How to invest in stocks;

← Return to main catalog

Will Surgutneftegaz pay dividends in 2022?

Undoubtedly, the company will continue to pay out money for next year. Let's consider how much Surguneftegaz's dividends will increase in 2022. So, it was previously said that at the end of 2020, the dividend income at a profit cost of 6.8 rubles per preferred share is 17%. To do this, it is possible to determine the dollar-ruble exchange rate for investors - these are futures. They are created to fix prices for economic agents for the future.

Expected dividend payments in 2022

According to the futures contract, the dollar/ruble exchange rate for December 2021 is 78.38. After calculating, it turns out that Surgutneftegaz dividends in 2021 and 2022 will be:

• in the summer of 2021 – 6.8 rubles per share, or 17% yield.
• in the summer of 2022 – 4.19 rubles per share, or 10.4% yield.

Double-digit returns for three years in a row are very good. But the value of Surgutneftegaz shares in terms of dividends for 2022 will decrease, as the forecast says, so it is more profitable to buy shares for this year than to sell. Privileges will be bought, the growth of quotations may increase along with the likely weakening of the ruble - thanks to all this, the company will be able to pay good dividends. But this is only a forecast - it is unknown what will actually happen.

Surgutneftegaz preferred shares currently offer a dividend yield of 18%, based on our dividend estimate of RUB 6.9. per share, which we increased after updating our model taking into account the ruble exchange rate and the price of oil at the end of 2021. This makes SNGSP the leader in dividend yield among Russian stocks this year; The registry closing date is expected in July. We confirm our BUY recommendation and target price of RUB 44.5. for a preferred share of Surgutneftegaz.

The dividend forecast for preferred shares was increased to 6.9 rubles. per share

We have revised our Surgutneftegaz model taking into account the actual ruble exchange rate at the end of 2021 and oil prices in 4Q18. Since the ruble depreciated more than we previously expected (69.5 rubles/$ versus 66.0 rubles/$), this led to an increase in the estimate of profit from exchange rate fluctuations (by 41% to 516 billion rubles), and therefore to an increase in the forecast for net profit for 2021 (754 billion rubles, which is 15% higher than the previous one). Finally, given that dividends on preferred shares of Surgutneftegaz are tied directly to net profit under RAS, we have increased our forecast for dividends on preferred shares for 2021 to RUB 6.9. per share from 6.0 rub. per share earlier.

Impressive dividend yield of 18% – you won’t find a higher one in Russia

Historically the best bet on a weak ruble among Russian stocks (since Surgutneftegaz takes into account in its income statement a revaluation gain on a huge cash cushion of about $46 billion, mostly denominated in foreign currencies), Surgutneftegaz preferred shares now offer a dividend yield of 18 %. This makes Surgutneftegaz the most attractive 12-month dividend story among Russian stocks overall, not just in the oil and gas sector.

What's next? What is the normalized dividend yield?

The most obvious question we expect from investors regarding Surgutneftegaz preferred shares is how sustainable this dividend history is, given that this double-digit dividend yield is more of a one-off in nature amid the noticeable weakening of the ruble throughout 2018, which it began at the level of 57 rubles/$. We can answer that Surgutneftegaz preferred shares should not disappear from the radar of dividend hunters after July (the traditional month of closing the dividend register for Surgutneftegaz), maintaining a fairly attractive dividend yield. Meanwhile, the latter will depend on fluctuations in the ruble exchange rate, since the company’s “prefs” suffer greatly from the strengthening of the ruble - this has already happened before, for example, with net profit for 2021 and 2021 and the corresponding dividends. Excluding currency adjustments, which are usually the main driver of Surgutneftegaz's net income, we expect the company's preferred shares to offer a “normalized” dividend of RUB 3.8. per share in 2020, which implies a dividend yield of 10% at the current price, which should rise even higher in July of this year after the dividend cutoff in “prefs”. It is worth emphasizing once again that this estimate is based on a constant ruble exchange rate with zero profit/loss from exchange rate differences, which is rather from the realm of an “ideal world.”

The history of high dividends leaves no doubt about the payment

Surgutneftegas has a convincing history of high dividends - the company paid a huge dividend of 6.9 rubles. per preferred share in 2021 and even higher 8.2 rubles. per share in 2015. Additionally, we estimate that Surgutneftegas currently offers a strong FCF yield of 19% for 2019E, followed by 17% in 2020E. This means that the company will be able to pay dividends from its cash flow without affecting its cash cushion.

We maintain our BUY recommendation and confirm the target price of RUB 44.5 per share.

We maintain our BUY recommendation on Surgutneftegaz preferred shares, leaving our 12-month target price at RUB 44.5. per share. As we have already said, we view SNGSP as the most attractive dividend story among Russian stocks, supported by the weakening ruble.

Next catalyst – 2021 financial results in March

The company will publish its financial results under RAS for 2021 at the end of March. They usually become a catalyst for Surgutneftegaz preferred shares, since the latter's dividends are directly tied to net profit under RAS.