Russian mining giant Alrosa has announced that is board recommends a dividend payment of RUB 38.59 billion ($610 million) for 2017 – 50% of Alrosa’s net profit for the year, according to Gem Konnect.
In March, Alrosa released its financial results for 2017, showing revenue amounted to RUB 275.4 billion ($4.79 billion), EBITDA (Earnings before interest, tax, depreciation and amortization) to RUB 126.9 billion ($2.208 billion) and net profit to RUB 78.6 billion ($1.367 billion).
According to the miner, the financial performance in 2017 was down in comparison to 2016 “due to a 13% ruble appreciation against the US dollar and a 9% decrease in the average price of gem-quality diamonds sold mainly as a result of changes in the product mix”.
