Norilsk Nickel to give from 30% to 60% of its EBITDA to shareholders
Edited by Rhod Mackenzie / 2016-04-05 08:55:47
Finance Metals and mining Norilsk Nickel Russia Russia mineral extraction Dividends Russia Metals and Mining Nickel
Norilsk Nickel has offered its shareholders to change the dividend policy to increase the financial stability of the company to the changed market conditions. This was reported by the company. Until now, the company has returned to shareholders a half of its EBITDA, but not less than $2 billion plus special dividends in the case of sale of non-core assets.
It was a condition of the shareholders' agreement, which was signed by owner of Interros and president of Norilsk Nickel Vladimir Potanin, principal owner of UC Rusal Oleg Deripaska and owner of Millhouse Capital Roman Abramovich in late November 2012. During 2012-2015, Norilsk Nickel gave $9.2 billion to shareholders.
