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Polyus to allocate $311 mln for 2017 final dividend

June 02, 1:20 UTC+3 MOSCOW

The company’s current dividend policy suggests the total dividend payout in respect of each of the years 2017 and 2018 as the higher of 30% of EBITDA for the respective reporting year or $550 mln

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MOSCOW, June 2. /TASS/. Shareholders of Russia’s gold producer Polyus approved 2017 full year dividend payment at 147.12 rubles ($2.36) per ordinary share, as earlier recommended by the board of directors, at the annual general meeting on Friday.

"The total recommended dividend payout for the second half of 2017 will amount to 19,469,807,248.32 Russian rubles and correspond to $311 million," the company said in a statement.

Earlier Polyus paid out interim dividend for 1H 2017 amounting to 104.3 rubles per share (totally $239 mln). This brings the total dividend payout for the full year of 2017 to $550 mln.

The company’s current dividend policy suggests the total dividend payout in respect of each of the years 2017 and 2018 as the higher of 30% of EBITDA for the respective reporting year or $550 mln. This amount includes $239 mln paid out in form of dividend for the first half of 2017 in October 2017.

10 June 2018 has been approved as the dividend record date.

Polyus is the largest gold producer in Russia and one of the top ten gold miners globally with the lowest cost position. Its principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).

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