Alrosa Announces Record Payout to Shareholders
April 29, 21
(IDEX Online) - Alrosa is set to give shareholders their biggest-ever half-year dividend.
The Russian state-owned miner is proposing a $942m payout for H2 2020, an increase of 47 per cent on the full-year payout for 2019. It amounts to just under 13 US cents a share.
That's in spite of the global pandemic that saw diamond sales at virtually zero a year ago. No dividend was paid in H1 2020.
"The decision confirms the company's commitment to balancing the interests of shareholders and robust financial stability of the business," said Alrosa's CEO Sergey Ivanov.
Strong demand as travel and other restrictions were eased have allowed Alrosa to move stockpiled inventory. It now holds12.8m carats, down from 20.7m.
Pic courtesy Alrosa