Polymetal Board of Directors decides not to pay dividends for 2021

Polymetal refused to pay dividends for 2021, on October 12, the board of directors of the company will discuss the issue of exchanging shares frozen due to sanctions for documentary ones with the right to receive dividends. Polymetal’s IFRS net profit in the first half of the year decreased by 48.1%, to $203 million.

“The Board of Directors has decided to completely cancel the payment of the final dividend for 2021. In the context of the continued impact of these factors, the board did not propose the payment of interim dividends for 2022 in order to strengthen the financial and operational stability of the Company in an environment of high volatility,” explains report companies.

The text clarifies that the payment of dividends in the future will depend on the possibility of unlocking shares held in the National Settlement Depository (NSD). “The Company is offering shareholders whose rights have been restricted by the sanctions imposed on NSD and who meet certain conditions to present their shares for a one-to-one exchange for shares in documentary form,” reads the text of the offer, which must be approved. general meeting of shareholders on October 12 in London.

In the last week, against the backdrop of news about referendums on the accession of Ukrainian territories to Russia and partial mobilization in the Russian Federation, Polymetal does not leave list of decline leaders on the Moscow Exchange. Yesterday, the company’s shares fell 11.18%.

On the consequences of the entry of Russian troops into Ukraine for Russian citizens and businesses – in online broadcasts “b”.

Andrey Sapozhnikov