Alrosa Cancels Final Dividends for 2021
The Supervisory Board of Russian diamond miner Alrosa has recommended not to pay dividends for 2021, according to a press release quoted by Rough & polished.
“The Supervisory Board of ALROSA recommended to the General Meeting of Shareholders not to pay (not to declare) final dividends based on the results of the company’s operation in 2021. For the 1st half of 2021, dividends were paid in the amount of 64.7 billion rubles [about $1.092 billion], which exceeds 70% of the company’s net profit for 2021,” Alrosa said.
In a statement it made to Tass in late May, the state-run Russian news agency, Alrosa claimed that its sales of high-value diamonds to wealthy investors in Russia “have increased significantly since sanctions and hard currency restrictions were imposed.”