MOSCOW, October 31. /TASS/. The management of Norilsk Nickel has not yet approached the Company’s Board of Directors with a proposal to consider dividends for the first six months of 2024 and the Board is not reviewing this item thus far, spokesman of the Russian mining and metals company Andrey Bugrov told TASS on the sidelines of the Moscow Exchange forum.

"When the management will approach with a certain proposal. The Board of Directors is not considering [this issue]," Bugrov said, responding to a question, when the Norilsk Nickel’s Board may review this matter.

The adjusted free cash flow of the company stood at minus $159 mln as of the end of the first half of 2024. The company’s management repeated said that it wants to consider the free cash flow as the basis for dividend payout.

Net profit of Norilsk Nickel under the International Financial Reporting Standards fell by 23% to $829 mln against $1.07 bln a year earlier in January - June 2024. EBITDA declined by 30% to $2.35 bln.