Alrosa Allocates Record Dividend in 2018, $1.17B
June 27, 2019Russia diamond-mining giant Alrosa’s shareholders at their Annual General Meeting decided to allocate 100% of free cash flow for the second half of 2018 to the period-end dividend – 30.3 billion rubles, or approximately $480 million. Taking into account the nearly $692 million (43.7 billion rubles) in dividends the company paid for the first half-year of 2018 (equaling $0.09 or RUB 5.93 per share), the total dividend for 2018 will amount a record $1.17 billion (RUB 73.9 billion) or $0.16 (RUB 10.04) per share. Combined, the miner allocated a total of 80% of free cash flow for 2018 is allocated for dividends.
The dividend follows the Supervisory Board’s approval of a new version of the Company’s Dividend Policy at its meeting held on 24 June 2019. On 23 April 2019, ALROSA’s Supervisory Board recommended that the General Shareholders’ Meeting distribute 100% of the free cash flow. Source – www.thediamondloupe.com