Polymetal may pay $0.4 per share in dividends for January–June

MOSCOW, Aug 26 (PRIME) -- The board of directors of Russian gold producer Polymetal International has suggested paying U.S. $0.40 per share, or around $187.5 million, in dividends for January–June, the company said in a statement on Wednesday.

“An interim dividend of $0.40 per share representing 50% of the group’s underlying net earnings for the first half of 2020 has been approved by the board in accordance with the dividend policy. In the first half of 2020, the group has paid dividends totaling $0.62 per share (including special dividend and final dividend for fiscal year of 2019),” the statement read.

The company paid $0.42 per share, or around $197 million, in final dividends for 2019 and $0.20 per share, or around $94 million, in special dividends for 2019. The company also paid $0.20 per share in dividends for January–June 2019.

As of July 10, ICT Group of tycoon Alexander Nesis owns about 28% in Polymetal, while Otkritie Financial Corporation Bank owns 3.9%, PPF Group NV of Petr Kellner holds 3.8%, directors and the management of the company own 0.9%, and institutional and private investors own 63.4%. The company says that its free-float stands at 71.1%.

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