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Polyus board recommends 2022 dividends amounting to $5.7 per share

By 2:16 p.m. Moscow time, the price of shares had narrowed losses to 0.95% trading at 10,640 rubles

MOSCOW, May 11. /TASS/. The board of directors of Polyus has recommended that shareholders approve the decision on payment of 2022 dividends in the amount of 436.79 rubles per share, Russia’s gold miner said in a statement on Thursday.

"The Board of Directors of PJSC Polyus is recommending the dividends for the full year of 2022 in the amount of 436.79 Russian rubles per ordinary share and setting on 16 June 2023 as dividend record date," the statement reads.

The recommended dividend amount is equivalent to approximately $5.7 per ordinary share. "The total recommended dividend payout for the full year of 2022 represents 30% of the company’s EBITDA for the full year of 2022, in line with the company’s dividend policy," according to the statement.

The dividend amount and dividend record date are subject to approval by the company’s annual general shareholders’ meeting convened on June 6, 2023.

As of 2:05 p.m. Moscow time, the company’s shares were down by 2.51% at 10,472.5 rubles. By 2:16 p.m. the price of shares had narrowed losses to 0.95% trading at 10,640 rubles.

Polyus is the world’s largest gold producer in terms of reserves and one of top five companies in terms of gold production. Its main assets are located in Russia’s Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).