The Investor Protection Association (IPA) has announced that JSOC Bashneft won the ‘Russian Leaders in Corporate Governance 2012’ Award in the ‘Company with the Best Dividend Policy’ category.
The official award ceremony was held on December 11 in Moscow as part of the 2012 Russian Corporate Governance Roundtable. Bashneft shared the first prize in its category with OJSC Mobile TeleSystems, another of JSFC Sistema’s subsidiaries.
Note: The Investor Protection Association (IPA) is a non-profit organization established in April 2000 in order to unite the efforts of the investment community to protect investors’ rights and improve corporate governance in Russia.
The Association includes Russian and foreign investors whose total investments in the Russian economy exceed US$ 25 billion and who have considerable expertise in playing the Russian market: Alfa-Bank, ATON, Vostok Nafta Investment Ltd., the World Federation of Trade Unions (WFTU), Dart Management, Deutsche Bank AG, EOS Russia, Equinox Fund Management, IC RUSS-INVEST, East Capital Asset Management, Kazimir Partners, KIT Finance, NCH Advisors, ОМZ, PPF BETA Ltd., Parus Capital Limited, Industrial Investors, Prosperity Capital Management, Renaissance Capital, SUN Capital Partners, Templeton Asset Management, Leader management company, UralSib Management Company, Philip Morris Marketing and Sales, Hermitage Capital Management, Fleming Family & Partners.
The ‘Russian Leaders in Corporate Governance’ Award has been presented by the IPA since 2000. Winners in each category are chosen in three stages by secret ballot of the members of the Association.