21 Jul 2009 11:23

Norilsk Nickel may alter dividend policy to exceed 20%-25% of earnings

MOSCOW. July 21 (Interfax) - MMC Norilsk Nickel may revise its dividend policy, UniCredit said in a note to investors prepared following a meeting with company executives.

Norilsk Nickel may announce a dividend for the first half of 2009 in September. The dividend may well exceed 20%-25% of IFRS net profit in the period. Norilsk Nickel's leading shareholders are the strongest advocates for a dividend payment.

Norilsk Nickel did not pay a dividend for 2008.

Norilsk Nickel paid 21.350 billion rubles in dividends for 2007 or 220 rubles per share, including an interim dividend of 108 rubles per share for the first nine months of 2007.