Nornickel poised to pay RUB 1,021.22 in DPS

AK&M 13 April 2021 18:55

The Board of Directors has recommended for the Annual General Meeting of Shareholders (AGM) approval the final dividend for the financial year 2020 in the amount of RUB 1,021.22 per ordinary share (approximately $13). The final dividend will amount to a total of RUB 161.6 bn, Nornickel informed.

The total amount of reduced dividends distributed for 2020 is based on 50% of 2020 IFRS free cash flow. Therefore, the final dividend recommendation for 2020 has been calculated as 50% of 2020 IFRS free cash flow (50% of approximately $6.6 bn) less 9 months 2020 interim dividend of $1.2 bn already paid.

The Board of Directors has set June 1, 2021 as the dividend record date.

PJSC MMC Norilsk Nickel (tax number: 8401005730) is Russia's largest diversified mining and metallurgical company, the world's leading producer of nickel and palladium and one of major platinum, rhodium, copper and cobalt producer. Besides, the company produces a wide range of by-products including gold, silver, tellurium, selenium, iridium and ruthenium. The mining and processing assets of the MMC Norilsk Nickel group are located in the Norilsk industrial area, the Kola Peninsula as well as Finland, USA, Australia, Botswana, and RSA.

IFRS net profit of MMC Norilsk Nickel for 2020 decreased by 39% to $3.63 billion. Consolidated revenue increased 15% to $15.55 billion, EBITDA decreased by 3% to $7.65 billion.