Norilsk Nickel board recommends 9-month 2020 dividend of $1.24bn
MOSCOW – The board of Russia's Norilsk Nickel on Tuesday recommended a nine-month dividend of 98.64-billion roubles ($1.24-billion), at 623.35 roubles per share, down sharply fall from 2019.
The company's biggest shareholder Vladimir Potanin told Reuters last week that Norilsk Nickel should keep its dividends to a minimum this year, as it contends with the coronavirus crisis and a potential $2-billion environmental damages bill.
Potanin's Interros, aluminium producer Rusal and some other stakeholders have a dividend agreement that suggests Nornickel pays them at least twice a year.
Rusal, counting on dividends from its 27.8% stake in Nornickel, was satisfied with the amount of possible interim dividends, deputy CEO of Rusal Maxim Poletayev told Reuters.
"Based on the current situation, we believe their amount is optimal," he said.
Interros and Nornickel declined further comment.
Nornickel's shares were up 0.85% in Moscow on Tuesday.
Nornickel, the world's largest palladium producer and the leading producer of nickel, paid a total of 323.65-billion rubles in dividends for 2019 (about $4-billion at the current exchange rate).
Nornickel suffered a fuel spill at an Arctic power plant in May, for which Russia's environmental watchdog wants the company to pay about $2 billion in damages.
After the spill, Potanin, who owns a stake of 34.2%, proposed capping 2020 dividends at $1-billion.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
