Author: Paul Ploumis
23 Oct 2014 Last updated at 06:45:44 GMT
MOSCOW (Scrap Monster): In a statement released by Norilsk Nickel, the company stated that, it plans to announce the nine month dividend, on the board meeting which will be conducted on October 31st. The company has, made this decision because of its resilient financial position in the industry, reduction in the production cost, detachment from the non core assets.
Vladimer Potanin, the Chief Executive Officer of the company, stated that, the company was able to give away 2 billion dollars as dividend in the year 2012, and in the year 2013, it paid 2.2 billion dollars, and now the balance sheet of the company is 3.5 billion dollars, from which the company is only willing to pay out 1 billion dollars.
Based on the comments from the Chief Executive Officer of the company, an AG analyst from a Deutsche Bank, the annual payout of the company, might be 3.8 billion dollars.
Under the dividend policy of the company, Norilsk usually pays out, half of the company's earnings as the dividend, excluding out the tax, interest, amortization and also depreciation, and also never pay less than 2 million dollars.