In the light of recent developments, and in the interests of preserving shareholder value, the Board and the Special Committee have decided to consider all possible options available for divestment of JSC Polymetal and its subsidiaries.
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Dividend Policy
On 25 August 2020, with a view to increasing transparency in dividend decision making process, adding predictability into capital allocation approach while aiming to maintain an above sector-average dividend yield, the Board has approved an amendment to the Company’s dividend policy, which replaces special dividend with a modified policy for final dividend payment. As a result, the revised dividend policy is as follows:
- Minimum final dividend of 50% of Underlying Net Income for 2H (subject to absolute Net debt/Adjusted last twelve months EBITDA ceiling of 2.5x).
- In addition, the Board will now have discretion to increase the final dividend amount to a maximum annual payout of 100% of Free Cash Flow (provided that it is greater than 50% of Underlying Net Income). In making this decision, the Board will consider, among other factors, the macroeconomic outlook, debt position and future investment requirements of the Group.
- Interim dividend will remain at 50% of Underlying Net Income for 1H (subject to absolute Net debt/Adjusted last twelve months EBITDA ceiling of 2.5x).
- It may take some time from the date of payment to receive a dividend by shareholder. Please contact your broker for more information.
With this amendment, starting from 2021, Polymetal will pay dividends twice a year on a semi-annual basis.
Given the continuing impact of external uncertainties, the Board has not been proposing dividends since 2022 (FY2021 dividends and other going forward) to allow the Group to strengthen its cash position and enhance its resilience in a highly volatile environment. Payment of dividends in the future will also depend on the ability to unblock shares which are currently held through the National Settlement Depositary (NSD).
Dividend History
Dividend Type |
Record Date |
Date Paid |
Amount, US$M |
Amount, per share, US$ |
Exchange Rate |
Press Release |
Interim dividend for 2021 |
10 September 2021 |
30 September 2021 |
213 |
0.45 |
£1.00=US$1.380909 €1.00=US$1.178834 |
|
Final dividend for 2020 |
07 May 2021 |
28 May 2021 |
419 |
0.89 |
£1.00=US$1.404811 €1.00=US$1.207877 |
|
Interim dividend for 2020 |
04 September 2020 |
25 September 2020 |
189 |
0.40 |
£1.00=US$1.293670 €1.00=US$1.177572 |
|
Final dividend for 2019 |
11 May 2020 |
29 May 2020 |
197 |
0.42 |
£1.00=US$1.22103 €1.00=US$1.08006 |
|
Special dividend for 2019 |
14 Feb 2020 |
05 Mar 2020 |
94 |
0.20 |
£1.00=US$1.29948 €1.00=US$1.08180 |
|
Interim dividend for 2019 |
06 Sep 2019 |
27 Sep 2019 |
94 |
0.20 |
£1.00=US$1.2369 €1.00=US$1.1045 |
|
Final dividend for 2018 |
10 May 2019 |
24 May 2019 |
146 |
0.31 |
£1.00=US$1.2930 €1.00=US$1.1222 |
|
Interim dividend for 2018 |
07 Sep 2018 |
28 Sep 2018 |
77 |
0.17 |
£1.00=US$1.3009
€1.00=US$1.1598 |
|
Final dividend for 2017 |
11 May 2018 |
23 May 2018 |
136 |
0.30 |
£1.00=US$1.3478 |
|
Interim dividend for 2017 |
8 Sep 2017 |
29 Sep 2017 |
60 |
0.14 |
£1.00=US$1.3203 |
|
Final dividend for 2016 |
5 May 2017 |
26 May 2017 |
77 |
0.18 |
£1.00=US$1.2882 |
|
Special dividend for 2016 |
16 Dec 2016 |
29 Dec 2016 |
64 |
0.15 |
£1.00=US$1.2392 |
|
Interim dividend for 1H 2016 |
2 Sep 2016 |
23 Sep 2016 |
38 |
0.09 |
£1.00=US$1.3362 |
|
Final dividend for 2015 |
6 May 2016 |
27 May 2016 |
55 |
0.13 |
£1.00=US$1.4487 |
|
Special dividend for 2015 |
11 Dec 2015 |
24 Dec 2015 |
127 |
0.30 |
£1.00=US$1.5180 |
|
Interim dividend for 1H 2015 |
4 Sep 2015 |
25 Sep 2015 |
34 |
0.08 |
£1.00=US$1.5380 |
|
Final dividend for 2014 |
1 May 2015 |
29 May 2015 |
55 |
0.13 |
£1.00=US$1.5203 |
|
Special dividend for 2014 |
19 Dec 2014 |
23 Jan 2015 |
84 |
0.20 |
£1.00=US$1.5537 |
|
Interim dividend for 1H 2014 |
5 Sep 2014 |
26 Sep 2014 |
31 |
0.08 |
£1.00=US$1.6267 |
|
Final dividend for 2013 |
2 May 2014 |
30 May 2014 |
31 |
0.08 |
£1.00=US$1.6975 |
|
Interim dividend for 1H 2013 |
6 Sep 2013 |
26 Sep 2013 |
4 |
0.01 |
£1.00=US$1.5712 |
|
Final dividend for 2012 |
17 May 2013 |
19 Jun 2013 |
119 |
0.31 |
£1.00=US$1.5136 |
|
Special dividend for 2012 |
14 Dec 2012 |
21 Jan 2013 |
191 |
0.50 |
£1.00=US$1.6050 |
|
Final dividend for 2011 |
18 May 2012 |
18 Jun 2012 |
77 |
0.20 |
£1.00=US$1.5576 |
|
TOTAL |
2,616 |
5.92 |
|