Norilsk Nickel to wait for better prices

Despite the sharp drop in nickel prices in 2015 and low prices for other metals of Norilsk Nickel, its shareholders, according to the Kommersant’s information, are not ready to give up the high dividends (at least $2 billion per year). Loans will help to save them in 2016, but if the market situation doesn’t improve, the problem will be exacerbated in 2017, the Kommersant’s sources say.

Management of Norilsk Nickel has no plans to bring the issue of changing the dividend policy at the level of key shareholders (Interros of Vladimir Potanin with 30.3% of shares, UC Rusal of Oleg Deripaska with 27.8% and Crispian Investment Ltd of Roman Abramovich and Alexander Abramov with 5.87%), vice-president and head of economics and finance department of the company Sergei Malyshev said yesterday. According to him, "activity" of the shareholders could theoretically occur after yesterday's disclosure of the annual accounts, which can be "an additional reason for the analysis of the current situation". "In the past, our shareholders have already reviewed the commitments on dividends to decrease them," - the top manager recalled.