Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Polymetal International plc    POLY   JE00B6T5S470

POLYMETAL INTERNATIONAL PLC

(POLY)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/23 11:36:45 am
1760 GBX   -0.85%
10/22POLYMETAL : Q3 2020 production results
EQ
10/15POLYMETAL INTERNATIONAL : Issuance of new shares
AQ
10/15POLYMETAL : Issuance of new shares
EQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Polymetal: Interim dividend declaration of US$ 0.40 per share and approval of revised dividend policy

share with twitter share with LinkedIn share with facebook
08/26/2020 | 03:10am EDT

Polymetal International plc (POLY)
Polymetal: Interim dividend declaration of US$ 0.40 per share and approval of revised dividend policy

26-Aug-2020 / 09:05 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


Release time

IMMEDIATE                                                         LSE, MOEX, AIX: POLY / ADR: AUCOY

Date

26 August 2020

 

 

Polymetal International plc

Interim dividend declaration of US$ 0.40 per share and approval of revised dividend policy

Polymetal announces that on 25 August 2020 the Board of Directors of the Company resolved to pay an interim dividend of US$ 0.40 per share for the six months ended 30 June 2020 and approved a revised dividend policy aimed at increasing transparency to the market.

Dividend declaration

In accordance with the Company's Dividend Policy, the Directors of Polymetal have resolved to pay an interim dividend for the six months ended 30 June 2020 of US$ 0.40 per share (1H 2019: US$ 0.20) or approximately US$ 189 million in total, representing 50% of the Group's underlying net income for 1H 2020, while staying significantly below the hard ceiling of Net debt/Adjusted EBITDA ratio of less than 2.5x.

This brings the total dividend declared in 2020 to US$ 1.02 per share, or US$ 481 million in aggregate, and the dividend yield to 5.4% based on the average year-to-date share price.

The dividend will be paid on 25 September 2020 in US Dollars, with an option for shareholders to elect to receive the dividend in pounds sterling or Euro. Such an election should be made no later than 7 September 2020. Payments in pounds sterling and Euro will be based on the USD/GBP and USD/EUR exchange rates determined by the Company on 10 September 2020 and announced immediately thereafter.

Details

EX DIV DATE:              03 September 2020

RECORD DATE:              04 September 2020

LAST DATE FOR CURRENCY ELECTION:  07 September 2020

PAYMENT DATE:                                             25 September 2020

The Company's issued share capital comprises 471,804,467 ordinary shares.

Revised dividend policy

With a view to increasing transparency in dividend decision making process, adding predictability into capital allocation approach while aiming to maintain an above sector-average dividend yield, the Board has approved an amendment to the Company's dividend policy, which replaces special dividend with a modified policy for final dividend payment. As a result, the revised dividend policy is as follows:

  • Minimum final dividend of 50% of Underlying Net Income for 2H (subject to absolute Net debt/Adjusted EBITDA ceiling of 2.5x).
  • In addition, the Board will now have discretion to increase the final dividend amount to a maximum annual payout of 100% of Free Cash Flow (provided that it is greater than 50% of Underlying Net Income). In making this decision, the Board will consider, among other factors, the macroeconomic outlook, debt position and future investment requirements of the Group.
  • Interim dividend will remain at 50% of Underlying Net Income for 1H (subject to absolute Net debt/Adjusted EBITDA ceiling of 2.5x).

With this amendment, starting from 2021, Polymetal will pay dividends twice a year on a semi-annual basis.

"Our updated divided policy responds to the market's request for higher transparency", said Maxim Nazimok, CFO of Polymetal. "We remain committed to providing superior sustainable dividends and returning cash flows to our shareholders".

 

About Polymetal 

Polymetal International (LSE, MOEX: POLY, ADR: AUCOY) (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-20 global gold producer and a top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.

Enquiries

Media

 

Investor Relations

FTI Consulting

Leonid Fink

Viktor Pomichal

+44 20 3727 1000

Polymetal

Evgeny Monakhov

Timofey Kulakov

Kirill Kuznetsov

ir@polymetalinternational.com

+44 20 7887 1475 (UK)

 

+7 812 334 3666 (Russia)

Joint Corporate Brokers

 

Morgan Stanley

Andrew Foster

Richard Brown


Panmure Gordon

James Stearns

John Prior

+44 20 7425 8000

 

 

 

+44 20 7886 2500

RBC Europe Limited

Marcus Jackson

Jamil Miah

+44 20 7653 4000

 

Forward-looking statements

This release may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or "should" or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company's control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company's present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company's actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

 



ISIN: JE00B6T5S470
Category Code: DIV
TIDM: POLY
Sequence No.: 82874
EQS News ID: 1123229

 
End of Announcement EQS News Service

fncls.ssp?fn=show_t_gif&application_id=1123229&application_name=news&site_id=zonebourse
© EQS 2020

share with twitter share with LinkedIn share with facebook
All news about POLYMETAL INTERNATIONAL PLC
10/22POLYMETAL : Q3 2020 production results
EQ
10/15POLYMETAL INTERNATIONAL : Issuance of new shares
AQ
10/15POLYMETAL : Issuance of new shares
EQ
10/14POLYMETAL INTERNATIONAL : Analyst and Investor Day
AQ
10/14POLYMETAL : Analyst and Investor Day
EQ
10/08POLYMETAL : Director/PDMR Shareholding (Cockerill)
EQ
10/065 Long Term Incentive Plans Overwhelmingly Voted By Investors
AQ
10/06POLYMETAL : Kutyn construction approval
EQ
09/25POLYMETAL : Director/PDMR Shareholding (Oliveira)
EQ
09/25POLYMETAL : TR-1 Notification (Nesis)
EQ
More news
Financials (USD)
Sales 2020 2 865 M - -
Net income 2020 1 075 M - -
Net Debt 2020 1 122 M - -
P/E ratio 2020 10,1x
Yield 2020 5,85%
Capitalization 10 828 M 10 834 M -
EV / Sales 2020 4,17x
EV / Sales 2021 3,57x
Nbr of Employees 12 083
Free-Float 75,4%
Chart POLYMETAL INTERNATIONAL PLC
Duration : Period :
Polymetal International plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends POLYMETAL INTERNATIONAL PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Average target price 30,08 $
Last Close Price 22,95 $
Spread / Highest target 105%
Spread / Average Target 31,0%
Spread / Lowest Target -29,3%
EPS Revisions
Managers
NameTitle
Vitaly Natanovich Nesis Group Chief Executive Officer & Executive Director
Ian David Cockerill Chairman
Vitaly Valerevich Savchenko Chief Operating Officer
Maxim Nazimok Chief Financial Officer
Konstantin Periklovich Yanakov Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
POLYMETAL INTERNATIONAL PLC47.28%10 834
BHP GROUP-7.50%119 748
RIO TINTO PLC1.67%99 541
ANGLO AMERICAN PLC-8.68%31 950
GRUPO MÉXICO, S.A.B. DE C.V.21.40%23 460
FRESNILLO PLC90.33%11 715