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The Board of Directors of Seligdar PJSC (MOEX: SELG) has approved an updated dividend policy.

The new version of the document complies with all requirements of current legislation. The update is driven by the need to ensure a transparent and clear mechanism for shareholders regarding the procedure, timing and amount of dividend payments in connection with the implementation of a number of investment projects.

The key innovation of the document is the definition of the Dividend Base. This is a calculated financial result of the Company, which serves as the basis for determining the amount of dividends. The Dividend Base is calculated as operating profit less financial expenses, income tax paid and changes in inventories, based on consolidated financial statements.

The recommended dividend amount is determined by the Board of Directors based on the Company's financial results, in particular the amount of net profit determined in accordance with accounting data, including retained earnings from prior periods.

When formulating its recommendation to the General Meeting of Shareholders on the payment (declaration) of dividends, the Board of Directors is guided by the principle that the total amount of dividends for the reporting year may be no less than 30% of the Dividend Base for the reporting year, based on the Consolidated Financial Statements.

Aleksandr Khrushch, President of Seligdar PJSC:

"The update of the dividend policy is primarily aimed at protecting the interests of our shareholders. The introduction of the Dividend Base will reduce dependence on revaluation. Seligdar continues to implement its large-scale investment programme as part of its development strategy, which will enable the Company to double its production volume after 2030”.