A senior official of the Russian diamond mining company ALROSA noted that consumer demand in the global diamond market may recover within the next one to three months.
RIA Novosti quotes the head of the company's corporate finance department, Sergei Takhiev, as saying at a SberCIB webinar that after this period, the company will have more factors to take into account and consider the situation with annual dividends.
"Now the market is in a state where stocks in the cutting and polishing sector are being released. Most likely, this will take 1-3 months, maybe a little more, as trading recovers. The Indian [manufacturing] sector is already saying that they see recovery and revival, and fundamental factors are good," Takhiev noted.
ALROSA has recently faced not only a slowdown in the global diamond market, but also sanctions imposed by the major global consumers against diamonds of Russian origin. Meanwhile, the company's supervisory board recently recommended paying dividends for the first half of the year.
"When they (factors of recovery - ed.) begin to gradually come into play, the company will have the opportunity to assess the situation in annual dividends next year," the top manager concluded.
Theodor Lisovoy, Managing Editor, Rough&Polished
