27 Apr 2018 12:58
Press Release 27 April 2018
PJSC Polyus
2H 2017 Dividend Recommendation
The Board of Directors (the "Board") of PJSC Polyus (LSE, MOEX - PLZL) ("Polyus", or the "Company") is recommending the dividends for the second half of 2017 in the amount of 147.12 Russian roubles per ordinary share. The dividend is subject to approval by the Company's annual general shareholders' meeting ("AGM") on 31 May 2018.
The dividend amount is equivalent to approximately 2.35 U.S. dollars per ordinary share or 1.18 U.S. dollars per depositary share (with two depositary shares representing interest in one ordinary share).[1]
The total recommended dividend payout for the second half of 2017 will amount to 19,469,807,248.32 Russian roubles and correspond to 311 million U.S. dollars.
The total dividend payout for the full year of 2017 will correspond to 550 million U.S. dollars. Polyus' current dividend policy suggests the total dividend payout in respect of each of the years 2017 and 2018 as the higher of 30% of the Company's EBITDA for the respective reporting year or 550 million U.S. dollars. This amount includes 239 million U.S. dollars paid out in form of dividend for the first half of 2017 in October 2017.
The dividend record date will be 10 June 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 Sakha Republic (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.
[1] Based on the currency exchange of the Central Bank of Russia of 62.60 Russian roubles per 1 U.S. dollar as of 27 April 2018.