ALROSA said yesterday its Supervisory Board met on August 26, 2021 and recommended the general meeting of shareholders to allocate 64.7 billion rubles to be paid as dividends for the first six months of 2021 or 8.79 rubles per share, which corresponds to 100% of free cash flow for this period.
“A sustainable year-to-date recovery in demand for diamonds and diamond jewelry translated into a quick improvement in our financial performance and profitability. This meant that in 2021 we were already able to pay out record-high dividends, distributing RUB 70.3 bn for H2’20 in Q3’21. Our financial health enables us to allocate the Company’s entire free cash flow of RUB 64.7 bn on dividends for H1 2021. If the shareholders approve the dividend recommendation, the total cash payments in 2021 will reach as high as RUB 135 bn, which exceeds the total dividends paid for 2018 and 2019,” said Sergey Ivanov, ALROSA's Chief Executive Officer and Chairman of the Executive Committee.
In accordance with the laws, the Extraordinary General Meeting of Shareholders will take place on 30 September 2021. The recommended record date for dividends is 19 October 2021.
Vladimir Malakhov, Rough&Polished
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