8 June 2022 – ALROSA’s Supervisory Board recommended not to pay
out dividends for 2021
ALROSA’s Supervisory Board has recommended the
General Meeting of Shareholders not to pay out final dividends for
2021. Dividends for 1H 2021 amounted to RUB 64.7 bn, exceeding 70% of
the Company’s net profit in 2021.
The Annual General Meeting of Shareholders is
scheduled for 30 June 2022.
The list of shareholders eligible to participate
in the Annual General Meeting of Shareholders was finalized on 6 June
2022.
For reference:
In March 2021, ALROSA’s Supervisory Board
approved a new version of the Company’s Dividend
Policy.
Free cash flow1 is used as a basis
for calculating dividends, semi-annual payout ratio is depending on
the Net Debt2 / EBITDA3 ratio. If the
actual and forecasted Net Debt / EBITDA ratio is below 1.5, a minimum
dividend of 50% of IFRS net income is paid for the year.
Period
|
H1 2018
|
H2 2018
|
H1 2019
|
H2 2019
|
H1 2020
|
H2 2020
|
H1 2021
|
Dividends accrued for the period,
RUB bn
|
43.7
|
30.3
|
28.3
|
19.4
|
0.0
|
70.3
|
64.7
|
[1] Free cash flow (FCF) is the operating cash
flow calculated in accordance with the International Financial
Reporting Standards (IFRS) net of capital expenditure (posted as
Purchase of Property, Plant and Equipment in the consolidated IFRS
statement of cash flows).
[2] Net debt is calculated on an IFRS basis as the
amount of debt less cash and cash equivalents as well as bank
deposits at each reporting date.
[3] EBITDA stands for the Group’s earnings or
loss for the last 12 months adjusted for income tax expenses,
financial income and expenses, share of net profit of associates and
joint ventures, depreciation and amortisation, impairment and
disposals of property, plant and equipment, gain or loss on disposal
of joint ventures, revaluation of investments, and one-off items.
| 
