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ALROSA

June 8, 2022

ALROSA Supervisory Board recommended not to pay 2H 2021 dividends

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.






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