Dividends

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.

Dividend History