Russia's Rusal recommends first dividend in five years

En+ MKPAO

30/08/2022 08:39

* This content was produced in Russia where the law
restricts
coverage of Russian military operations in Ukraine

    MOSCOW, Aug 30 (Reuters) - Russia's Rusal  0486.HK 
recommended its first dividend in five years on Tuesday - an
interim payment of $0.02 per share - after reporting strong
first-half financial results earlier in August.
    Rusal, the world's largest aluminium producer outside China,
boosted its January-June core earnings by 37% to $1.8 billion
amid higher aluminium prices.  urn:newsml:reuters.com:*:nL1N2ZO0EB
    The payment for the first half of 2022 would reach $304
million, according to Reuters calculations based on Rusal's
issued share capital, if shareholders approve the board's
recommendation on Sept. 30.
    Rusal, controlled by EN+ group  ENPG.MM  with a 56.9% stake,
last paid a dividend for the first half of 2017, when it
returned $300 million to shareholders.
    Sual Partners, which owns 25.5% of Rusal, has been calling
for the resumption of dividend payments since 2021, but the
company was focused on reducing its debt.  urn:newsml:reuters.com:*:nL1N2QC0GF

 (Reporting by Anastasia Lyrchikova; writing by Polina Devitt;
editing by Kirsten Donovan)