Polymetal hands out first ever special dividend
FTSE 100 miner Polymetal said it was giving 191m dollars back to shareholders after solid financial results.
FTSE 100 miner Polymetal said it was giving 191m dollars back to shareholders after solid financial results.
The firm said that "having considered the performance of the group during the year to date, available free cash flows and future investment requirements", it would pay special dividend of $0.50 per ordinary share on 21st January.
The move follows a change in divined policy in October, which now states regular dividends should represent 30% of the company's net earnings provided that net debt / adjusted EBITDA is below 1.75.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief Executive Vitaly Nesis said the declaration of the first special dividend in the company's history reaffirmed the group's commitment to capital discipline and was also a result of solid operating and financial results.
"The implementation of our new dividend policy reflects the importance we place on delivering meaningful cash returns to our shareholders and sustainable value creation," he said.
The shares go ex-dividend on 12th December and there is an option for shareholders to elect to receive the dividend in pounds sterling.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Trouble brews in B&M as bargain shops take a hit
Opinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in London
The US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?