11 March 2019
Polymetal International plc is pleased to announce that the Board of Directors of the Company has recommended the payment of a final dividend of US$ 0.31 per share for the year ended 31 December 2018.
A final dividend of US$ 0.31 per share (approx. US$ 146 million) representing 50% of the Group’s underlying net earnings for 2H 2018 has been proposed by the Board in accordance with the dividend policy while complying with the hard ceiling of Net debt/Adjusted EBITDA ratio below 2.5x.
This will bring the total dividend declared for the FY 2018 to US$ 223 million (2017: US$ 196 million), or US$ 0.48 per share (2017: US$ 0.44 per share) and the dividend yield to 5% calculated based on an average share price in 2018. The 3-year average dividend yield now amounts to 4%.
The final dividend will be subject to shareholder approval at the Annual General Meeting of the Company to be held on 23 April 2019. Assuming shareholder approval is received, the dividend will be paid on 24 May 2019 in US Dollars, with an option for shareholders to elect to receive the dividend in pounds sterling or euro. Such an election should be made no later than 13 May 2019. Payments in pounds sterling and euro will be based on the USD/GBP and USD/EUR exchange rates determined by the Company on 15 May 2019 and announced immediately thereafter.
EX DIV DATE: 09 May 2019
RECORD DATE: 10 May 2019
LAST DATE FOR CURRENCY ELECTION: 13 May 2019
PAYMENT DATE: 24 May 2019
The Company’s issued share capital comprises 469,368,309 ordinary shares.