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May 7, 2020

ALROSA Supervisory Board recommends H2 2019 dividends of 100% FCF

May 7, 2020 - At the meeting held on 6 May, ALROSA Supervisory Board recommended allocating 100% of the company’s free cash flow for FY2019 on dividends.

In accordance with ALROSA’s Dividend Policy, the Supervisory Board recommended the General Meeting of Shareholders to distribute as dividends 100% of the Company’s free cash flow (FCF) for 2019, amounting to RUB 47.65 bn, or RUB 6.47 per share.

Taking into account the dividend paid for the H1 2019 (RUB 28.28 bn, or RUB 3.84 per share), the Supervisory Board recommends to pay RUB 19.37 bn, or RUB 2.63 per share for H2 2019.

“Here in ALROSA we highly appreciate the trust of our shareholders during these challenging times for the industry. Board’s decision on 2019 dividends recommendation, which was fully in-line with our approved dividend policy, considers interests of all our shareholders. A well-balanced financial policy, continued focus on operational excellence and creation of long-term value allow us to balance the interests of shareholders while maintaining financial sustainability of our business,” said Sergey Ivanov, CEO of ALROSA.

The date of the annual General Meeting of Shareholders, that has to vote for dividends’ approval, to be set by the Supervisory Board in the course of May.

The recommended record date for dividends is July 13, 2020.

In June 2019, ALROSA’s Supervisory Board approved a new version of the company’s Dividend Policy, with the updated methodology for determining the amount of dividends. The details are available here. If the Net Debt/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 0.5x to 1.0x (not including 1.0x), the dividend payout ratio is 70-100% of the FCF for the respective half of the reporting year.

For reference:

In accordance with the IFRS, the company’s 2019 net profit amounted to RUB 62.7 bn, Net Debt/EBITDA[1] ratio was at 0.7õ.


[1] EBITDA stands for earnings before interest, income tax, depreciation and amortisation calculated for the last twelve months based on the International Financial Reporting Standards (IFRS).




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