ALROSA's Shareholders Approve 32% Dividend Rise for 2013
Jun 29, 2014 7:02 AM
By Deena Taylor
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RAPAPORT... ALROSA's shareholders approved a 32 percent increase in dividends to RUB 1.47 per ordinary share for 2013. Shareholders voted to pay a total year-end dividend of $320.8 million (RUB 10.826 billion) at the company's annual general shareholders meeting held in Mirny on June 28.
Under the company's updated dividend policy, which was approved last year, ALROSA will pay no less than 35 percent of its net profit under International Financial Reporting Standards (IFRS) as dividends. The company's net profit under IFRS amounted to $942.4 million (RUB 31.837 billion) in 2013. Under Russian Accounting Standards, (RAS) ALROSA's net profit amounted to $1.05 billion (RUB 35.6 billion).
The company explained that the remaining portion of its net profit will be used to finance its investment programs.
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Tags:
Alrosa, Deena Taylor, dividends
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