Norilsk Nickel to calculate dividends by a new scheme

​Taking into account the long-lasting unfavorable environment in the markets, the Board of Norilsk Nickel will consider the mid-term financial-economic model of the company’s development and corrected goals on dividends. This decision aims for providing a stable financial state of the company provided the leading role in the profitability for shareholders and dividend payments will stay.

After payment of annual dividends-2015 Norilsk Nickel from 2016 will count dividends based on the new rates which base on the floating rate counted as the stake of EBITDA connected with the level of the debt. The following is determined as dividend rate:

-60% of EBITDA if the net debt/EBITDA ratio as of the end of the year is lower than 1.8x;

-30% of EBITDA if the net debt/EBITDA ration as of the end of the year is over 2.2x;

-The stake of EBITDA is 60-30% counted in inverse relation to the net debt/EBITDA ratio if the level of the net debt/EBITDA as of the end of the year is 1.8x-2.2x;

The minimal volume of dividends per year in 2017 will make up $1.3 bln plus revenue.