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Polyus decides not to pay no dividends for 2023

According to the dividend policy, Polyus allocates at least 30% of EBITDA for dividends, provided that the ratio of net debt to EBITDA does not exceed 2.5x

MOSCOW, June 28. /TASS/. Shareholders of gold mining company Polyus have decided not to pay dividends for 2023, the company said in a statement.

In addition, shareholders elected the company’s Board of Directors, the composition of which was not disclosed.

At the end of 2022, Polyus did not pay dividends either. At the time, Polyus shareholders decided not to pay dividends for 2022, after the company's Board of Directors canceled the previous recommendation to pay dividends for 2022 in the amount of 436.79 rubles ($4.84) per share and issued a new one - not to pay dividends.

According to the dividend policy, Polyus allocates at least 30% of EBITDA for dividends, provided that the ratio of net debt to EBITDA does not exceed 2.5x.

At the end of 2023, the gold miner's adjusted net profit under the International Financial Reporting Standards (IFRS) increased by 59% compared to 2022 to $2.41 bln.

Polyus is the world's second largest gold mining company in terms of gold reserves and one of the world's top five gold producers. The company's main production facilities are located in Siberia and the Far East - the Krasnoyarsk Territory, the Irkutsk and Magadan Regions, and the Republic of Sakha (Yakutia).