Shareholders of Norilsk Nickel have approved the payment of $2.78 billion of dividends over 9 months 2014

The extraordinary meeting of shareholders of GMK Norilsk Nickel OJSC has approved the rise of dividend’s payment by 2.5 times on the results of 9 months 2014 from $1.1 bln in Jan-September 2013 to $2.78 bln, 762.34 roubles per share.

In late October the Board of Directors of GMK Norilsk Nickel advised that the shareholders should approve the dividends on the results of 9 months 2014 at the amount of 762.34 roubles (about $17.6 at the exchange rate as of October 31st 2014) per general share, including on the account of the undistributed profit of past years.

About $2.78 bln were planned for these purposes, including about $1.5 bln n the form of special dividends which will be primarily financed by the funds obtained from the sale of the non-profile assets and reduction of working capital.