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Polymetal to Pay $481 Million to Shareholders

Interim dividends double in size

Photo: Pixabay

By the decision of the Board of Directors, on September 25th the Polymetal group of companies will pay their shareholders an interim dividend for the first half of 2020. The total sum will amount to half of Polymetal’s net profit.

According to the data provided by the official Polymetal representative in Kazakhstan, interim dividends for the first half of the year will amount to $0.40 per share. This is twice the payout from the same period of 2019 ($0.20).

The shareholders call noted, “The total amount of dividends declared in 2020 is $481 million. The dividend yield to the average share price for the year to date is at 5.4%.”

Polymetal’s revenue in the first half of the year amounted to $1.1 billion, an increase of 21% over the same period last year. This is due to the rising price of gold (up 25%) and silver (up 10%). Polymetal projects that its enterprises will produce 1.5 million ounces of gold by year’s end.

As of August 25, the volume of issued shares exceeded 471 million. They are traded on the Moscow and London stock exchanges and on the electronic trading platform of the Astana International Financial Center.

Polymetal is a mining company with nine operational gold and silver mines in Russia and Kazakhstan. It is among the top ten gold mining companies in the world.

Earlier Kursiv.kz reported that Polymetal increased gold production in Kazakhstan. The Kyzyl (East Kazakhstan region) and Varvarinskoye (Kostanay region) deposits have demonstrated high production yields.

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