Russian diamond producer PJSC Alrosa's supervisory board recommended a first half dividend of 28.3 billion Russian rubles, or 3.84 rubles per share in absolute terms, representing all of its free cash flow for the period, in line with a new dividend policy.
The company said Aug. 27 that the dividend record date is Oct. 14, and the payout proposal will be up for approval at its general meeting of shareholders. Alrosa paid a dividend of 43.7 billion rubles, or 5.93 rubles per share, for the first half of 2018.
Alrosa's net profit slumped 36% year over year to 37.5 billion rubles in the first half as revenue dropped 24% to 127.9 billion rubles on the back of a 16% decline in sales volumes to 18.9 million carats.
As of Aug. 26, US$1 was equivalent to 66.00 Russian rubles.
