“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 2019

Russia’s export legislation is like a log on the road making it difficult to drive through

Eduard Utkin, General Manager of the Russian Jewellers Guild Association, which is a member of the Russian Federation Chamber of Commerce and Industry, answers the questions from Rough & Polished regarding the activities of the country’s professional...

11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

Botswana said it will begin new diamond marketing and sales negotiations with De Beers in June or July this year. Mineral resources minister Eric Molale told Rough & Polished’s Mathew Nyaungwa on the sidelines of a mining conference in Cape Town, South...

04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

Graduating in International Business from an Institute in Sydney, Australia, in 2015, Jack Chen returned to China to start managing his family-owned jewellery business. Besides holding a certificate in a practical diamond course at Gemological Institute...

25 february 2019

Ali Pastorini: “We have to change a little the way to sell the idea that buying jewelry is just for glamour”

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together approximately 1000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

18 february 2019

ALROSA’s Board approves new dividend policy and recommends 6M 2018 interim dividends of at least RUB 5.93 per share

07 august 2018
The Supervisory Board of ALROSA, the world’s largest diamond producer, on 6 August 2018 approved Financial Policy, the new Dividend Policy, and made a preliminary recommendation for the General Meeting of Shareholders to pay 6M’18 interim dividends.
In line with the new dividend policy, dividends will be paid twice a year (for the first six months and for twelve months of the year, net of dividends for the first six months paid previously). Previuosly, dividends were paid once a year based on the Company’s annual results.
The Company has decided to use free cash flow (FCF ) representing the operating cash flow net of capital expenditure as a new basis for calculating dividend payments.
The Supervisory Board, when recommending dividend payout, shall be guided by the level of Net Debt2 / EBITDA3 ratio.
The Supervisory Board made a preliminary recommendation for the General Meeting of Shareholders to pay dividends based on the Company’s 6M 2018 results of at least RUB 5.93 per share, or 70% of free cash flow based on the IFRS financials planned to be published on 24 August 2018.
ALROSA’s Financial Policy outlines key approaches to short-, medium- and long-term liquidity management.
Pursuant to the Financial Policy, the Company plans to keep the target Net Debt / EBITDA ratio between 0.5x and 1.0x in the medium- and long term.