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Russian gold giant Polyus recommends $0.7 billion dividend for 2H 2020

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(Kitco News) - Russia’s Polyus (LSE, MOEX - PLZL), one of the world’s largest gold mining companies, today announced that its Board recommending the dividends for the second half of 2020 in the amount of 387.15 Russian roubles per ordinary share.

The company said that recommended dividend amount is equivalent to approximately $5.09 per ordinary share or $2.55 per depositary share. The total recommended dividend payout for the second half of 2020 will correspond to approximately $693 million, representing 30% of the company’s EBITDA for the second half of 2020, in line with the company’s dividend policy.

The dividend record date recommended by the company’s Board is 7 June 2021. The dividend amount and dividend record date is subject to approval by the company’s annual general shareholders’ meeting convened on 27 May 2021.

Polyus is the world’s fourth-largest gold mining company by production volumes and one of two gold miners with the largest attributable gold reserves. The company demonstrates the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).

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