Adds Rusal remark, context MOSCOW, Nov 3 (Reuters) - The bo
Adds Rusal remark, context
MOSCOW, Nov 3 (Reuters) – The board of Russia’s Norilsk Nickel GMKN.MM on Tuesday really helpful a nine-month dividend of 98.64 billion roubles ($1.24 billion), at 623.35 roubles per share, down sharply fall from 2019.
The corporate’s largest shareholder Vladimir Potanin advised Reuters final week that Norilsk Nickel ought to hold its dividends to a minimal this 12 months, because it contends with the coronavirus disaster and a possible $2 billion environmental damages invoice.
Potanin’s Interros Holding, aluminium producer Rusal 0486.HK and another stakeholders have a dividend settlement that implies Nornickel pays them no less than twice a 12 months.
Rusal, relying on dividends from its 27.8% stake in Nornickel, was happy with the quantity of attainable interim dividends, deputy CEO of Rusal Maxim Poletayev advised Reuters.
“Primarily based on the present state of affairs, we consider their quantity is perfect,” he mentioned.
Interros and Nornickel declined additional remark.
Nornickel’s shares had been up 0.85% in Moscow on Tuesday.
Nornickel, the world’s largest palladium producer and the main producer of nickel, paid a complete of 323.65 billion rubles in dividends for 2019 (about $four billion on the present trade fee).
Nornickel suffered a gas spill at an Arctic energy plant in Could, for which Russia’s environmental watchdog needs the corporate to pay about $2 billion in damages.
After the spill, Potanin, who owns a stake of 34.2%, proposed capping 2020 dividends at $1 billion.
($1 = 79.3075 roubles)
Nornickel to contemplate nine-month dividend however might cap payout
(Reporting by Anastasia Teterevleva and Anastasia Lyrchikova; Writing by Alexander Marrow and Anastasia Lyrchikova; Enhancing by Edmund Blair and Lisa Shumaker)
(([email protected];))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.