Make Kitco Your Homepage

Russian mining giant Nornickel distributes $3.5 billion as 2020 dividend

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Russia’s Nornickel, the world’s largest producer of palladium and high-grade nickel, announced today that its shareholders approved the final dividend for the financial year 2020 in the amount of RUB 1,021.22 per ordinary share (approximately 13.86 at the RUB/USD exchange rate set by the Russian Central Bank as of 19.05.2021). The dividend record date has been set on 1 June 2021.

The final dividend will amount to a total of RUB 161.6 bn (approximately USD 2.2 bn). The total dividend distribution for the FY 2020 will amount to USD 3.5 bn, including the interim dividends for nine months of 2020 which have been already paid to shareholders (for a total amount of approximately USD 1.3 bn).

Norilsk Nickel is a diversified mining and metallurgical company, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

The production units of Norilsk Nickel are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa.

Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.