May 07, 2018

ALROSA Declares Dividend of RUB 5.24 Per Share for 2017; Reports Agog About Purchase of Kristall

At the annual general  meeting of its shareholders held on  April 28, 2018,  the Supervisory Board of PJSC ALROSA recommended the payment of RUB 5.24 per share as dividend  for 2017. This would amount to a total of RUB 38.592 billion, which is about 50% of ALROSA net profit under IFRS, the Company revealed. ALROSA dividends for 2016 amounted to RUB 8.93 per share; also 50% of the net profit under IFRS for that year.

“During the meeting, the date of PJSC ALROSA shareholders' annual meeting was also fixed on June 26, 2018,” the Company said. “The list of people who are entitled to vote is made according to the register's information as of June 1, 2018.”

Meanwhile, the media  has been agog with reports of ALROSA’s interest in acquiring  Kristall Production Corporation, seen as Russia’s biggest diamond manufacturing company.  ALROSA’s Board has approved of the move, and the Company’s President, Sergey Ivanov,  has been asked to prepare  technical guidelines so as to fix the price for the purchase offer, reported Prime Business News Agency.

According to reports, Kristall, a state-owned company, cuts and polishes about 300,000 carats a year, and has a revenue of around US$ 200 million. It had been earmarked  for  privatisation by 2019, as part of a list of companies prepared by the Russian government.