Polymetal International PLC Final dividend of US$ 0.30 per share (3704H)
March 12 2018 - 3:04AM
UK Regulatory
TIDMPOLY
RNS Number : 3704H
Polymetal International PLC
12 March 2018
Release IMMEDIATE
time
Date 12 March 2018
Polymetal International plc
Final dividend declaration of US$ 0.30 per share
Polymetal International plc (LSE, MOEX: POLY, ADR: AUCOY)
(together with its subsidiaries - "Polymetal", the "Company", or
the "Group") is pleased to announce that the Board of Directors of
the Company has recommended the payment of a final dividend of US$
0.30 per share for the year ended 31 December 2017.
Dividend declaration
In accordance with the Company's revised dividend policy, the
Directors of Polymetal are proposing the payment of a final
dividend of US$ 0.30 per ordinary share (approx. US$ 129 million)
for the year ended 31 December 2017 (2016: US$ 0.18), representing
50% of the Group's underlying net income for the 2H 2017 and in
compliance with the hard ceiling of Net debt/Adjusted EBITDA ratio
below 2.5x.
This will bring the total dividend declared for the period to
US$ 0.44 per ordinary share, or US$ 189 million and the dividend
yield to 3.7% calculated based on an average share price in 2017.
The 3-year average dividend yield now amounts to 4.3%.
The final dividend will be subject to shareholder approval at
the Annual General Meeting of the Company to be held on 25 April
2018. Assuming shareholder approval is received, the dividend will
be paid on 23 May 2018 in US Dollars, with an option for
shareholders to elect to receive the dividend in pounds sterling.
Such an election should be made no later than 14 May 2018. Payments
in pounds sterling will be based on the USD/GBP exchange rate
determined by the Company on 16 May 2018 and announced immediately
thereafter.
Details
EX DIV DATE: 10 May 2018
RECORD DATE: 11 May 2018
LAST DATE FOR CURRENCY ELECTION: 14 May 2018
PAYMENT DATE: 23 May 2018
The Company's issued share capital comprises 430,115,480
ordinary shares.
Enquiries
Media Investor Relations
------------------ ------------------ ----------------------------------------------------
FTI Consulting +44 20 3727 1000 Polymetal ir@polymetalinternational.com
Leonid Fink Evgenia Onuschenko +44 20 7016 9505 (UK)
Viktor Pomichal Maryana Nesis
Michael Vasiliev +7 812 334 3666 (Russia)
------------------ ------------------ -------------------- ------------------------------
Joint Corporate Brokers
-------------------------------------- ----------------------------------------------------
Morgan Stanley
Andrew Foster
Richard Brown +44 20 7425 8000
Panmure Gordon RBC Europe Limited
Adam James Tristan Lovegrove
James Stearns +44 20 7886 2500 Marcus Jackson +44 20 7653 4000
------------------ ------------------ -------------------- ------------------------------
FORWARD-LOOKING STATEMENTS
THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED
TO BE, "FORWARD-LOOKING STATEMENTS". THESE FORWARD-LOOKING
STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE. THESE
FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF
FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS "TARGETS",
"BELIEVES", "EXPECTS", "AIMS", "INTENDS", "WILL", "MAY",
"ANTICIPATES", "WOULD", "COULD" OR "SHOULD" OR SIMILAR EXPRESSIONS
OR, IN EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY
DISCUSSION OF STRATEGIES, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS
OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS ALL INCLUDE MATTERS
THAT ARE NOT HISTORICAL FACTS. BY THEIR NATURE, SUCH
FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS,
UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY'S
CONTROL THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM FUTURE
RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH
FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS ARE
BASED ON NUMEROUS ASSUMPTIONS REGARDING THE COMPANY'S PRESENT AND
FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN WHICH THE COMPANY
WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT
GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD
CAUSE THE COMPANY'S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO
DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING
STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR
UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY
FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGE
IN THE COMPANY'S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN
EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS
ARE BASED.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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