Mirny, October 2, 2018 – On September 30, ALROSA’s Extraordinary General Meeting of Shareholders adopted a resolution on 1H 2018 profit distribution approving a dividend payout of RUB 43.7 bn (RUB 5.93 per share), or 70% of the free cash flow. This will make ALROSA's dividends for 6M 2018 more than RUB 5 bn higher than its FY 2017 payout.
Acting upon the new dividend policy, ALROSA’s Supervisory Board recommended that the General Meeting of Shareholders distribute at least 70% of the free cash flow, or RUB 5.93 per share, in 1H 2018 dividends.
The dividend record date is 15 October 2018.
It was the first time that the General Meeting voted on dividends in accordance with the new dividend policy, which was approved by the Supervisory Board in early August 2018. The new policy has introduced half-year dividends in addition to full-year payments. Instead of net profit, the calculation is now based on free cash flow (FCF) representing the operating cash flow net of capital expenditure, as well as the Company's Net Debt / EBITDA ratio. More details on the new dividend policy are available here.