ALROSA’s Supervisory Board, at the meeting held on August 26, 2019, has recommended paying dividends for the Company’s H1 2019 results.

“In accordance with ALROSA’s Dividend Policy, the Supervisory Board recommended that the General Meeting of Shareholders distribute 100% of its H1 2019 free cash flow as the first six months of 2019 dividends,” ALROSA announced. “In absolute terms, the dividends payable will amount to RUB 28.3 bn, or RUB 3.84 per share. Six months dividend yield will be at around 5%.”

The Company confirmed that the recommended record date is October 14, 2019.

It will be recalled that in June 2019, ALROSA’s Supervisory Board had approved a new version of the Company’s Dividend Policy. The Company had spelt out the methodology for determining the amount of dividends updated as follows: “If the Net Debt / LTM EBITDA ratio as at the end of the first half of the year or as at the end of the year is within the range of 0.0x to <0.5x, the semi-annual dividend payout ratio is 100% of the FCF for the respective half of the reporting year”.  

In accordance with the IFRS, ALROSA’s H1 2019 free cash flow amounted to RUB 28.3 bn, with EBITDA at RUB 56.5 bn, net debt was at RUB 35.4 bn, and net profit at RUB 37.5 bn. Net Debt / EBITDA was at 0.29Ñ….