The Supervisory Board of ALROSA recommended not to pay dividends for 2021, according to a press release issued by the company on Wednesday.
“The Supervisory Board of ALROSA recommended to the General Meeting of Shareholders not to pay (not to declare) final dividends based on the results of the company's operation in 2021. For the 1st half of 2021, dividends were paid in the amount of 64.7 billion rubles, which exceeds 70% of the company's net profit for 2021,” ALROSA said.
The annual general meeting of ALROSA shareholders is scheduled for June 30, 2022. On Monday, the company compiled a list of shareholders eligible to take part in it.
In March 2021, the Supervisory Board of ALROSA approved changes to the dividend policy. Free cash flow is used as the basis for calculating dividends, and the amount of semi-annual dividend payments is determined depending on the value of the Net Debt/EBITDA ratio. If the current and forecast value of the Net Debt/EBITDA ratio does not exceed 1.5, the amount of funds allocated for the payment of dividends for the reporting year must be at least 50% of net income for the year under IFRS.
Last year, the company paid dividends to shareholders in the amount of 70.3 billion rubles.
Exclusive
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
