Dividends
Dividend policy
According to MMC Norilsk Nickel dividend policy approved by the Board of Directors in 2002, the Company strives to distribute from 20% to 25% of its net profit for the year after tax, calculated in accordance with IFRS, as dividends.
Final dividends for 2008
In the environment of the global financial crisis and significant decrease in metal prices, the Board of Directors, at its meeting on May 21, 2009, decided to recommend to the Annual General Meeting of Shareholders of the Company to approve no payment of dividends for 2008.
On June 30, 2009, at the AGM, shareholders, in line with the Board of Directors’ recommendation, decided to void 2008 dividends due to the current economic situation and necessity to preserve the Company’s strategic potential.
Dividend history
| 2008 | 2007(2) | 9 m. 2007 |
2006(2) | 9 m. 2006 |
2005(2) | 9 m. 2005 |
2004(2) | 9 m. 2004 |
2003(2) | 9 m. 2003 |
2002 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend per share, in RUB |
- |
220 |
108 |
176 |
56 |
96.49 |
43 |
69.4 |
41.4 |
42.1 |
42.1 |
21.7 |
| Dividend per share, in USD (1) |
- |
9.34 |
4.38 |
6.7 |
2.09 |
3.47 |
1.49 |
2.47 |
1.46 |
1.37 |
1.37 |
0.68 |
Note:
(1) - at the exchange rate as fixed by Central Bank on the date of announcement
(2) - including interim dividends
