The supervisory board of ALROSA has issued a recommendation to allocate 14.88 billion rubles ($158 million), or 2.02 rubles per share, as dividends based on the company’s performance for the second half of 2023.
In accordance with the current dividend policy of ALROSA, dividend payments are calculated depending on free cash flow and debt, but not lower than 50% of net profit under IFRS.
ALROSA’s IFRS net profit for 2023 amounted to 85.18 billion rubles. Taking into account the dividends paid for the first half of the year, dividends for the second half exceed 50% of the company's net profit.
The general annual meeting of shareholders of the diamond mining company will be held on May 20, 2024, at which the final decision on the payment of dividends will be made.
At an extraordinary general meeting in September 2023, ALROSA's shareholders agreed to pay 27.77 billion rubles in dividends for the first half of 2023, or 3.77 rubles per share.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
