The company announced dividends for three quarters

Norilsk Nickel announced the payment of dividends for the nine months of 2015, which will amount to more than 50.9 billion rubles. The company this year began paying dividends more than twice a year and has already paid interim dividends for the first half of the year, which leaves just over $400 million before full payment of the required $2 billion for the year.

Photo: Alexander Chizhenok, Kommersant / buy photo

The Board of Directors of MMC Norilsk Nickel adopted a recommendation on the amount of interim dividends for the nine months of the current year. According to the company , the dividend amount will be 321.95 rubles. per share. The total amount of payments is about 50.9 billion rubles (more than $790 million at the current exchange rate). The recommendation will be approved or rejected by the company's extraordinary meeting of shareholders, which will take place on December 19.

Norilsk Nickel's dividend policy provides for paying shareholders half of EBITDA, but not less than $2 billion per year, as long as the company's debt load is below two EBITDA. Previously, the company paid this amount in two installments: for nine months and for a year. This year, more payments for the half-year were added: Norilsk Nickel shareholders (Vladimir Potanin’s Interros (30.3%), Oleg Deripaska’s Rusal (27.8%) and Roman Abramovich’s Millhouse (5.87%)) agreed on increasing the frequency of payments if it is commercially reasonable to do so. For the first half of the year, MMC has already paid 305.07 rubles. ($5.1) per share, or about $800 million (RUB 48.3 billion). Thus, the company remains to pay just over $400 million before the mandatory minimum. Last year, the company paid a total of 120.64 billion rubles, or 762.3 rubles. per share.

Farit Ishmukhammetov

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Norilsk Nickel will pay shareholders 50.9 billion rubles.