At a meeting held on 27th April, Alrosa’s Supervisory Board recommended allocating an all-time high half-year dividend for H2 2020 amounting to RUB 70.3 billion ($944 million), or RUB 9.54 ($0.13) per share. The dividend amount was up 47% vs the FY2019 payout, the miner noted.
Sergey Ivanov, Alrosa CEO, said, “As proposed by the company’s management, in March 2021, the Board approved changes to the financial and dividend policies to enhance resilience and sustainability of our business. In particular, it increased the target minimum liquidity reserve to RUB 70 bn and adjusted the methodology for determining the amount of dividend payout for Net Debt/EBITDA below 1.0x.
“In view of the changes, the Supervisory Board recommended distributing record high RUB 70.3 bn, or 80% of free cash flow for the period as dividends for H2 2020. The decision confirms the Company’s commitment to balancing the interests of shareholders and robust financial stability of the business.”
The general meeting of shareholders will be convened on 16th June, 2021. The recommended record date for dividends is 4th July, 2021.