Polymetal shareholders approve final dividends
MOSCOW. June 13 (Interfax) - The shareholders in Polymetal International plc, which controls Russia's largest silver producer and major gold producer OJSC Polymetal , approved final dividends for 2012 at their annual general meeting on Wednesday, Polymetal said in a press release.
Polymetal's final dividends for 2012 are $0.31 per share. The company's regular dividend policy sets aside 30% of net profit for its shareholders.
The company paid out special dividends of $0.5 per share at the end of last year, so together with regular dividends, shareholders will get $0.81 per share.
Polymetal CEO Vitaly Nesis has said the company will not be able to pay out generous special dividends for 2013.
The shareholder register was compiled on June 10.
After trade closes on Friday, June 14, Polymetal's shares will be excluded from the FTSE 100 in connection with their sharp drop in value in recent months. The company's capitalization has slumped by almost 30% since the beginning of the second quarter.
In addition, shareholders reelected the company's board of directors: chairman Robert Godsell, Nesis, Konstantin Yanakov, Marina Groenberg, Jean-Pascal Duvieusart, Charles Balfour, Jonathan Best, Russel Skirrow and Leonard Homeniuk.
Polymetal International plc is the Jersey-registered holding company for Russia's Polymetal. The company has operations in the Magadan and Sverdlovsk regions, the Khabarovsk territory, Chukotka and Kazakhstan.
The company's principal beneficiaries are Alexander Nesis' ICT Group (17.9%), Petr Kellner's PPF Group (20.86%), Alexander Mamut (10.12%), Alexander Mosionzhik's MBC Development (4.44%), and the former director of Baltiysky Zavod shipyard Oleg Shulyakovsky (4.27%).
