On Thursday, 30 September 2021, ALROSA’s Extraordinary General Meeting of Shareholders, in line with recommendations of the Supervisory Board, resolved to pay dividends and amend the Company’s internal documents.
The meeting was held in absentia and had a hitherto unprecedented quorum of 85.66001%. All the proposed resolutions were adopted, with more than 99.7% of votes cast in favour.
The shareholders voted to pay dividends for 1H 2021 of RUB 8.79 per share. Total dividends for 1H 2021 will be RUB 64.7 bn, or 100% of the free cash flow for the period.
The approved record date for the 1H 2021 dividends is 19 October 2021.
With the 2H 2020 dividends of RUB 70.3 bn, ALROSA will be paying a total of RUB 135 bn in dividends in 2021. This is more than the 2018 and 2019 dividends combined.
The shareholders also resolved to amend the Company’s Articles of Association and the Regulations on the General Meeting of Shareholders to be able to hold meetings remotely in accordance with Russian laws.
Following the meeting, Sergey Ivanov, ALROSA CEO, said that a record-breaking number of minority shareholders took part in the vote or 19.66% of the total share capital. “Strong involvement of all three groups of our shareholders (Russian Federation with 33% of shares, Yakutia, including its districts, also with 33% of shares, and minority shareholders, which combined hold a total of around 34% of shares) has once again highlighted our sound corporate governance practices. We will continue upholding them as we honour and protect the interests of all of ALROSA’s shareholders,” said Sergey Ivanov.
Vladimir Malakhov, Rough&Polished
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