On October 31, the Company’s Board of Directors will consider calling an Extraordinary General Meeting of Shareholders to approve interim dividends for 9 months of 2014.
The Management Board’s proposal stems from the Company’s robust financial position and its successful execution on strategy, which has resulted in increased free cash flow generation driven by cost savings, release of working capital and disposals of non-core assets (including the African assets). The Company remains fully committed to all of its social and environmental obligations as well as to its capital investments programme as planned, while planning no significant increase in financial leverage.
CEO of Norilsk Nickel Vladimir Potanin said, “The latest positive changes at Norilsk Nickel allow us to accelerate dividend payments, which should improve our shareholders value proposition, level out the peak of dividend payments due in 2016 and give a tangible feeling to the investment community of the financial efficiency gains delivered this year. I am convinced that the payment of interim dividends will send a positive signal to the stock market and should support investors’ confidence in Russia's economy”.