PLZL.L Regulatory News (PLZL)

Press Release 24 August 2018

PJSC Polyus

1H 2018 dividend recommendation

The Board of Directors (the "Board") of PJSC Polyus (LSE, MOEX - PLZL) ("Polyus", or the "Company") is recommending the dividends for the first six months ended 30 June 2018 in the amount of 131.11 Russian roubles per ordinary share.

The dividend amount is equivalent to approximately 1.91 U.S. dollars per ordinary share, or 0.96 U.S. dollars per depositary share (with two depositary shares representing interest in one ordinary share).[1]

The total recommended dividend payout for the first half of 2018 will amount to 17,351,049,675.96 Russian roubles and correspond to 253.2 million U.S. dollars, representing 30% of the Company's EBITDA for the first half of 2018, in line with the Company's dividend policy.

The current dividend policy of Polyus suggests the total dividend payout in respect of the full year of 2018 as the higher of 30% of the Company's EBITDA for the year or 550 million U.S. dollars.

The dividend is subject to approval by the Company's Extraordinary General Shareholders' Meeting on 28 September 2018. The dividend record date will be 18 October 2018.

Polyus

Polyus is the largest gold producer in Russia and one of the top 10 gold miners globally with the lowest cost position. Based on its 2017 Ore Reserves and Mineral Resources, the Polyus group ranks second by attributable gold reserves and gold resources among the world's largest gold mining companies.

The Polyus group's principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).

Enquiries

Investor contact

Victor Drozdov, Director Investor Relations

+7 (495) 641 33 77

drozdovvi@polyus.com 

Media contact

Victoria Vasilyeva, Director Public Relations

+7 (495) 641 33 77

vasilevavs@polyus.com 

Forward-looking statements

This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus Group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus' and/or Polyus Group's operations. Many of these risks and uncertainties relate to factors that are beyond Polyus' and/or Polyus Group's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as of the date of this announcement. Polyus and/or any Polyus Company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.