6 May 2024 10:58

Polymetal to present updated strategy in June, including capital allocation

MOSCOW. May 6 (Interfax) - Polymetal will hold its Investor and Analyst Day in Astana on June 11, the company said.

CEO Vitaly Nesis and CFO Maxim Nazimok will present the group's updated strategy at the event, including capital allocation. Previously, Nesis said that decisions on dividends, both for 2023 and policy for the future, would be part of the capital allocation strategy, which comes from the overall strategy of the company. Polymetal was expected to reveal a new dividend policy as well as dividend recommendations in May.

The last time Polymetal paid dividends was for the first half of 2021, when it paid $0.45 per share for a total of $213 million.

Polymetal's largest shareholder is a consortium of Omani investors led by the Omani government-owned Mercury Investments International fund (23.9%). Shares are in free circulation on the stock exchanges of Astana and Moscow make up 75%, including a relatively large stake (4%) which belongs to BlackRock .