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Nornickel increases 2005 dividends by 24%.

June 29, at the AGM, shareholders of Norilsk Nickel Mining Company OJSC decided to pay the 2005 dividends at the amount of RUB 96.49 per ordinary share, as the Company informed.

The Company has already paid the interim dividends for 9 months at RUB 43 per share. Thus, the IV Q dividends will amount to RUB 53.49 per share.

On February 17, 2006 Nornickel's shareholders approved the decrease of the authorized capital by 10.88%. The Company paid off 23278137 ordinary shares of RUB1 par. Among them, it paid off 10799433 shares (5.048% of the authorized capital) repaid from the shareholders who voted against or who didn't take part in the voting at the extraordinary meeting held on September 30, 2005 to discuss the question of the separation of the gold-mining assets into the company Polus Zoloto. The sum of the redemption totaled RUB 20.032 bn (at that moment - $698 mln). In addition, Nornickel paid off 12478704 shares (5.83%) acquired from its shareholders at the beginning of last year over the offer.

Upon paying off the shares, Nornickel's authorized capital totaled 190627747 ordinary shares of RUB 1 par. The payment volume for 9 months amounted to RUB 9.197 bn. With the interim dividends the Company will direct RUB 18.39 bn ($680 mln) to pay the 2005 dividends.

In IV Q 2004 Nornickel paid the dividends at RUB 28 per share. Following the results of 9 months, the Company paid the dividends at RUB 41.4 per share, the payments totaled RUB 8.856 bn. In total the Company paid the 2004 dividends at RUB 14.845 bn.

Thus, the 2005 dividends of Nornickel grew by 23.9%.
Norilsk Nickel Mining Company is the world's largest producer of nickel and platinum metals. In 2005 Nornickel produced 243 thousand tons of nickel, 452 thousand tons of copper, 3.13 thousand ounces of palladium and 751 thousand ounces of platinum.

Nornickel's net income in 2005 under RAS reached RUB 58.159 bn, which is 13.7% higher than in 2004 - RUB 51.143 bn. The Company's net income in 2005under IFRS grew 1.26 times to $2.35 bn, its proceeds rose by 8.8% to $7.169 bn.

"AK&M", 30/06/2006 08:22



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