UK Regulatory | 4 March 2020 08:03
Polymetal: Final dividend declaration of US$ 0.42 per share
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Polymetal International plc (POLY)
Polymetal International plcFinal dividend declaration of US$ 0.42 per share Polymetal is pleased to announce that the Board of Directors of the Company has recommended the payment of a final dividend of US$ 0.42 per share for the year ended 31 December 201 9 . Dividend de clarationA final dividend of US$ 0.42 per share (2018: US$ 0. 31 per share) or approx. US$ 1 97 million in total representing 50% of the Group’s underlying net earnings for 2H 201 9 has been proposed by the Board in accordance with the dividend policy while staying remaining within the Net D ebt/Adjusted EBITDA target of 1.5x and significantly below the hard ceiling ratio of less than 2.5x . This bring s the total dividend declared for the FY 201 9 to the record level since the Company’s IPO of US $ 0.82 per share (201 8 : US$ 0.4 8 per share) or approx. US$ 385 million (201 8 : US$ 223 million) and the divi dend yield to 6.5 % calculated based on an average share price in 201 9 . The 5 -year dividend yield averaged 5 %. The final dividend will be subject to shareholder approval at the Annual General Meeting of the Company to be held on 2 7 April 20 20 . Assuming shareholder approval is received , the dividend will be paid on 2 9 May 20 20 in US Dollars, with an option for shareholders to elect to receive the dividend in pounds sterling or euro. Such an election should be made no later than 1 2 May 20 20 . Payments in pounds sterling and euro will be based on the USD/GBP and USD/EUR exchange rates determined by the Company on 15 May 20 20 and announced immediately thereafter . DetailsDividend dates for London Stock Exchange (LSE) and Moscow Exchange (MOEX): EX DIV DATE: 07 May 2020 RECORD DATE: 1 1 May 2020 LAST DATE FOR CURRENCY ELECTION: 1 2 May 2020 PAYMENT DATE: 29 May 2020 Due to bank holidays in Kazakhstan, the following dates will apply on the Astana International Exchange (AIX) : EX DIV DATE: 06 May 2020 RECORD DATE: 11 May 2020 LAST DATE FOR CURRENCY ELECTION: 12 May 2020 PAYMENT DATE: 29 May 2020 The Company’s issued share capital comprises 470,230,200 ordinary shares. About Polymetal Polymetal International (LSE, MOEX: POLY, ADR: AUCOY) (together with its subsidiaries – “ Polymetal “, the “Company”, or the “Group”) is a top-20 global gold producer and a top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.
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F orward -looking statements T his release may include statements that are, or may be deemed to be, “forward-looking statements”. T hese forward-looking statements speak only as at the date of this release. T hese 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. T hese forward-looking statements all include matters that are not historical facts. B y 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. S uch 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. F orward-looking statements are not guarantees of future performance. T here 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. T he 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 .
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| ISIN: | JE00B6T5S470 |
| Category Code: | DIV |
| TIDM: | POLY |
| Sequence No.: | 50284 |
| EQS News ID: | 989065 |
| End of Announcement | EQS News Service |