At the meeting held on 27 April, ALROSA Supervisory Board recommended allocating all-time high half-year dividends for H2 2020 amounting to RUB 70.3 bn, or RUB 9.54 per share.
In accordance with ALROSA’s Dividend Policy, the Supervisory Board recommended the AGM to distribute RUB 70.3 bn, or RUB 9.54 per share as dividends for H2 2020, up 47% vs the FY2019 payout.
“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,” said Sergey Ivanov, ALROSA CEO.
The General Meeting of Shareholders will be convened on 16 June 2021. The recommended record date for dividends is 4 July 2021.
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