ALROSA’s Supervisory Board recommends paying RUB 28.3 bn for H1 2019 dividends

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Moscow, August 27, 2019 – At the meeting held on 26 August, ALROSA’s Supervisory Board recommended paying dividends for H1 2019 results.

In accordance with ALROSA’s Dividend Policy, the Supervisory Board recommended that the General Meeting of Shareholders distribute 100% of its H1 2019 free cash flow as the first six months of 2019 dividends. In absolute terms, the dividends payable will amount to RUB 28.3 bn, or RUB 3.84 per share. Six months dividend yield will be at around 5%.

The recommended record date is 14 October 2019.

In June 2019, ALROSA’s Supervisory Board approved a new version of the Company’s Dividend Policy, with the methodology for determining the amount of dividends updated as follows: if the Net Debt / LTM EBITDA ratio as at the end of the first half of the year or as at the end of the year is within the range of 0.0x to <0.5x, the semi-annual dividend payout ratio is 100% of the FCF for the respective half of the reporting year. Further details of ALROSA’s Divided Policy can be found here.

For reference:

In accordance with the IFRS, the H1 2019 free cash flow amounted to RUB 28.3 bn, with EBITDA at RUB 56.5 bn, net debt was at RUB 35.4 bn, and net profit at RUB 37.5 bn. Net Debt / EBITDA[1] was at 0.29х.

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[1] EBITDA stands for earnings before interest, income tax, depreciation and amortisation calculated for the last twelve months based on the International Financial Reporting Standards (IFRS).

This page was last updated on 27 August 2019 at 15.02