Russia’s ALROSA to pay 9.54 rbl per share in dividends for 2020

MOSCOW, Jun 17 (PRIME) -- The owners of Russian diamond mining giant ALROSA have agreed to pay 9.54 rubles per share, or a total of 70.3 billion rubles, in final dividends for 2020, a 47% increase compared with the combined dividend payout for 2019, the company said in a statement on Thursday.

The record date for the dividends is July 4. The shareholders will consider the recommendation at an annual general meeting (AGM) scheduled for Wednesday.

Previously, the company paid 6.47 rubles per share, or 100% of free cash flow, in full dividends for 2019, but decided against paying dividends for January–June 2020 due to a low free cash flow in the period.

The Russian government owns a 33.03% stake in ALROSA, the republic of Yakutia has 25% plus one share, districts of the republic own 8%, the free float is about 34%.

(72.0323 – U.S. $1)

End %%mk/jst%%