XML 54 R33.htm IDEA: XBRL DOCUMENT
v3.8.0.1

DIVIDENDS PAID AND PROPOSED | 12 Months Ended
--- | ---
Dec. 31, 2017
DIVIDENDS PAID AND PROPOSED |
DIVIDENDS PAID AND PROPOSED | 24 DIVIDENDS PAID AND PROPOSED Pursuant to Bermuda law, VEON is restricted from declaring or paying a dividend if there are reasonable grounds for believing that (a) VEON is, or would after the payment be, unable to pay its liabilities as they become due, or (b) the realizable value of VEON assets would, as a result of the dividend, be less than the aggregate of VEON liabilities. In August 2017, the Supervisory Board approved the distribution of an interim gross dividend of US 11 cents per share for 2017, from the Company's freely distributable reserves, representing a total dividend payment of US$193. The dividend was paid on September 6, 2017. Subsequent to year end, the Company announced that the VEON Supervisory Board approved a final dividend for 2017, refer to Note 27 for further details. On November 2, 2016, the Supervisory Board approved and authorized the payment of an interim cash dividend relating to its 2016 results from its freely distributable reserves in the amount of US 3.5 cents per common share, representing a total dividend payment of US$61. The dividend was paid on December 7, 2016. In addition to the dividend paid on December 7, 2016 the Supervisory Board, on February 27, 2017, authorized a proposed cash dividend relating to its 2016 results from its freely distributable reserves in the amount of US 19.5 cents per common share, representing a total dividend payment of US$343. The dividend was paid on April 12, 2017. On November 6, 2015 the Company announced that the Supervisory Board authorized the payment of a dividend of US 3.5 cents per ADS. The dividend was paid on December 7, 2015. The Company made appropriate tax withholdings of up to 15% when the dividends are paid to the Company's ADS depositary, The Bank of New York Mellon. DIVIDENDS DECLARED TO NON-CONTROLLING INTERESTS During the 2017 and 2016 years, certain subsidiaries of the Company declared dividends, of which a portion was paid or payable to non-controlling interests.
Name of subsidiary |  | Dividend declared |  | Dividend paid |  | Paid or payable to non-controlling interests |
VIP Kazakhstan Holding AG |  | October 6, 2017 |  | October 10, 2017 |  |  | 11 |
Omnium Telecom Algeria S.p.A |  | June 21, 2017 |  | August 18, 2017 |  |  | 82 |
TNS Plus LLP |  | May 12, 2017 |  | May 15, 2017 |  |  | 12 |
VIP Kyrgyzstan Holding AG |  | February 13, 2017 |  | February 16, 2017 |  |  | 55 |
TNS Plus LLP |  | January 24, 2017 |  | January 25, 2017 |  |  | 7 |
TNS Plus LLP |  | September 1, 2016 |  | September 2, 2016 |  |  | 18 |
VIP Kazakhstan Holding AG |  | July 28, 2016 |  | August 2, 2016 |  |  | 18 |
Omnium Telecom Algeria S.p.A |  | June 22, 2016 |  | September 1, 2 and 6, 2016 |  |  | 69 |
In 2017, PMCL, a subsidiary of the Company, declared dividends to its shareholders, of which US$54 (2016: US$7) was declared to the non-controlling interest holders of PMCL. Dividends declared to non-controlling interests reduces the principal amount of the put-option liability over non-controlling interest on the date of declaration. As of balance sheet date, an amount of US$26 (2016: US$7) remained payable to non-controlling interests.

X
- Definition The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2017-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_10_e&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfDividendsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | veon_DividendsPaidAndProposedAbstract
Namespace Prefix: | veon_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration