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Polymetal International PLC  -  POLY   

Final dividend of US$ 0.30 per share

Released 07:04 12-Mar-2018

RNS Number : 3704H
Polymetal International PLC
12 March 2018
 

Release time

IMMEDIATE

Date

12 March 2018

 

 

Polymetal International plc

Final dividend declaration of US$ 0.30 per share

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.

Dividend declaration

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.

Details

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.

 

Enquiries

Media

 

Investor Relations

FTI Consulting

Leonid Fink

Viktor Pomichal

+44 20 3727 1000

Polymetal

Evgenia Onuschenko

Maryana Nesis

Michael Vasiliev                   

ir@polymetalinternational.com

+44 20 7016 9505 (UK)

 

+7 812 334 3666 (Russia)

Joint Corporate Brokers

 

Morgan Stanley

Andrew Foster

Richard Brown


Panmure Gordon

Adam James

James Stearns

+44 20 7425 8000

 

 

 

+44 20 7886 2500

RBC Europe Limited

Tristan Lovegrove

Marcus Jackson

+44 20 7653 4000

FORWARD-LOOKING STATEMENTS

 

THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, "FORWARD-LOOKING STATEMENTS".  THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS "TARGETS", "BELIEVES", "EXPECTS", "AIMS", "INTENDS", "WILL", "MAY", "ANTICIPATES", "WOULD", "COULD" OR "SHOULD" OR SIMILAR EXPRESSIONS OR, IN EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS.  THESE FORWARD-LOOKING STATEMENTS ALL INCLUDE MATTERS THAT ARE NOT HISTORICAL FACTS.  BY THEIR NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY'S CONTROL THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS.  SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE COMPANY'S PRESENT AND FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Final dividend of US$ 0.30 per share - RNS