Polymetal International plc (LSE, MOEX: POLY, ADR: AUCOY) (together with its subsidiaries – “Polymetal”, the “Company”, or the “Group”) is pleased to announce that the Board of Directors of the Company has recommended the payment of a final dividend of US$ 0.30 per share for the year ended 31 December 2017.
In accordance with the Company’s revised dividend policy, the Directors of Polymetal are proposing the payment of a final dividend of US$ 0.30 per ordinary share (approx. US$ 129 million) for the year ended 31 December 2017 (2016: US$ 0.18), representing 50% of the Group’s underlying net income for the 2H 2017 and in compliance with the hard ceiling of Net debt/Adjusted EBITDA ratio below 2.5x.
This will bring the total dividend declared for the period to US$ 0.44 per ordinary share, or US$ 189 million and the dividend yield to 3.7% calculated based on an average share price in 2017. The 3-year average dividend yield now amounts to 4.3%.
The final dividend will be subject to shareholder approval at the Annual General Meeting of the Company to be held on 25 April 2018. Assuming shareholder approval is received, the dividend will be paid on 23 May 2018 in US Dollars, with an option for shareholders to elect to receive the dividend in pounds sterling. Such an election should be made no later than 14 May 2018. Payments in pounds sterling will be based on the USD/GBP exchange rate determined by the Company on 16 May 2018 and announced immediately thereafter.
EX DIV DATE: 10 May 2018
RECORD DATE: 11 May 2018
LAST DATE FOR CURRENCY ELECTION: 14 May 2018
PAYMENT DATE: 23 May 2018
The Company’s issued share capital comprises 430,115,480 ordinary shares.