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ALROSA's Supervisory Board Approves $254M for Dividends

Apr 25, 2012 3:54 PM   By Jeff Miller
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RAPAPORT... ALROSA's supervisory board recommended dividends of $253.6 million (RUB 7,438,615,000) based upon 2011 net earnings of $1 billion (RUB 29,519,001,000). The dividend payment would be at RUB 1.01 per one outstanding ordinary, registered share of 50 kopecks par value. The board also announced its annual general meeting will be held on June 30, 2012 in Mirny, Yakutia.

The supervisory board agreed with ALROSA's tender committee, relating to the winner of the services and recommended to shareholders that they approve the LLC “Finansovye i Bukhgalterskye Konsultanty” as the company’s auditor under the Russian Accounting Standards. The board also pre-approved a proposal from the executive committee on transferring the airfield in Mirny and airports in Polyarny, Aikhal, Vitim, Lensk, Saskylakh, and Olenyok to the Russian Federation.

Tags: Alrosa, dividends, Jeff Miller, Russia
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