ALROSA to pay record high 6-month dividends

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AK&M 04 May 2021 13:56

The Supervisory Board of ALROSA recommended paying RUB 70.3 billion in dividends for the second half of 2020, which is a historic high for the company, with a DPS of 9.54 rubles, and 47% above the whole amount distributed in dividends for FY19, ALROSA informed.

The company did not pay dividends for 1H20 given a negative free cash flow.

In March 2021, the Supervisory 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.

The annual general meeting is scheduled for June 16, 2021. The recommended dividend record date is July 4, 2021.

ALROSA is a Russian group of diamond mining companies. The corporation is engaged in the exploration of deposits, mining, processing and sales of rough diamonds. Its activities are mainly concentrated in Yakutia, as well as in Arkhangelsk region and Africa.