Polyus might pay shareholders $354 mln for 2016, incl. special dividends of $100 mln
MOSCOW. June 5 (Interfax) - The board of directors of PJSC Polyus , Russia's biggest gold producer, has tentatively approved the amount of dividends it intends to recommend for approval at the company's annual general meeting at $354 million in the ruble equivalent.
This includes regular dividends for the 2016 financial year in the amount of $254 million, or 30% of EBITDA in the second half of 2016, and special dividends in the amount of $100 million due to the sale of a stake in the Nezhdaninskoye deposit, the company said.
The payment of the dividends is subject to the board's approval of a recommendation to shareholders and approval of dividends at the annual general meeting scheduled for June 30. The date of record is expected to be between July 10 and 20, 2017.
PJSC Polyus last paid dividends for 9M 2012. The miner's previous parent company, Polyus Gold International Limited , paid its shareholders $184.5 million for 2014. Polyus did not pay regular dividends for 2013 but it did pay a substantial $500 million in special dividends at the end of 2014.
The biggest shareholder in PJSC Polyus with 91.73% of shares is PGIL, the main beneficiary of which is the son of Suleyman Kerimov, Said. The free float is 6.76% and another 1.51% of shares are held in treasury.
