RUSAL board of directors recommends no Jan-Sep dividends

MOSCOW, Dec 17 (PRIME) -- The board of directors of Russian aluminum giant UC RUSAL has recommended paying no dividends for January–September, as seen by PRIME in the materials of the company on Friday.

The company’s charter stipulates that a dividend recommendation should be made no later than in three months after the end of a reporting period. The deadline for the recommendation for January–September is December 31, while a shareholder meeting is scheduled for January 10, 2022, the company said.

The company lacks a financial report for the period calculated under International Financial Reporting Standards (IFRS), based on which the dividends could have been calculated.

On Tuesday, RUSAL said that the board of directors had not decided on a dividend recommendation for January–September as an unaudited financial report calculated under IFRS had not been prepared by the day.

In September, the RUSAL shareholders decided against paying dividends for January–June.

The last RUSAL paid dividends was for 2017, when it disbursed U.S. $299.3 million. The core shareholders of the company are multi-industry holding En+ Group with a 56.88% stake and Sual Partners with a 25.72%, while free-float amounts to 17.4%.

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